Fastly (NASDAQ:FSLY) Price Target Raised to $23.00 at DA Davidson

Key Points

• DA Davidson raised Fastly’s price target from $21 to $23 while maintaining a “neutral” rating, implying roughly 7% downside from the prior close.
• Analyst sentiment remains mixed: Fastly has an overall “Hold” rating and an average price target of $26, with ratings ranging from “Strong Buy” to “Sell.”
• Fastly’s latest quarterly results exceeded expectations, with adjusted EPS of $0.15 versus the $0.07 consensus and revenue of $183.32 million versus $173.94 million expected.

Fastly (NASDAQ:FSLY - Get Free Report) had its target price lifted by equities researchers at DA Davidson from $21.00 to $23.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. DA Davidson's price target would indicate a potential downside of 7.00% from the stock's previous close.

Several other analysts have also issued reports on FSLY. Raymond James Financial reissued an "outperform" rating on shares of Fastly in a report on Wednesday. KeyCorp reiterated an "overweight" rating and issued a $30.00 price target on shares of Fastly in a research note on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of Fastly in a research note on Friday, August 7th. Bank of America increased their price objective on shares of Fastly from $20.00 to $22.00 and gave the company an "underperform" rating in a research note on Wednesday. Finally, Evercore reissued an "outperform" rating on shares of Fastly in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Fastly presently has an average rating of "Hold" and an average target price of $26.00.

Fastly Price Performance

Shares of NASDAQ:FSLY opened at $24.73 on Wednesday. The firm's 50 day moving average price is $23.35 and its 200-day moving average price is $22.54. The stock has a market capitalization of $3.94 billion, a PE ratio of -45.73 and a beta of 0.36. Fastly has a twelve month low of $7.74 and a twelve month high of $34.82. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.33.

Fastly (NASDAQ:FSLY - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.08. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.The company had revenue of $183.32 million for the quarter, compared to analysts' expectations of $173.94 million. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. Equities research analysts expect that Fastly will post -0.29 EPS for the current year.

Insider Buying and Selling at Fastly

In other news, CTO Artur Bergman sold 2,200 shares of the business's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $25.30, for a total transaction of $55,660.00. Following the completion of the sale, the chief technology officer directly owned 1,595,006 shares of the company's stock, valued at $40,353,651.80. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Compton, III sold 50,392 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $24.93, for a total transaction of $1,256,272.56. Following the completion of the sale, the chief executive officer owned 851,949 shares in the company, valued at $21,239,088.57. This represents a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 749,684 shares of company stock worth $18,845,838. Company insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Fastly

A number of hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in Fastly in the second quarter worth $48,000. IFP Advisors Inc increased its position in shares of Fastly by 1,621.7% during the 2nd quarter. IFP Advisors Inc now owns 1,429 shares of the company's stock valued at $26,000 after purchasing an additional 1,346 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Fastly during the 2nd quarter worth $340,000. Nykredit A S bought a new stake in shares of Fastly during the 2nd quarter worth $77,000. Finally, AlphaGrep UK Ltd purchased a new position in shares of Fastly in the 2nd quarter worth about $366,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

About Fastly

Fastly, Inc is a cloud computing company that provides an edge cloud platform for delivering, securing and accelerating digital experiences. Its platform processes and serves applications, websites, APIs, streaming media and other internet content closer to end users, helping organizations improve performance, reliability and control.

Fastly's product portfolio includes content delivery and application performance services, application programming interface (API) security, web application and bot protection, distributed denial-of-service (DDoS) mitigation, and edge compute capabilities.

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