Fastly, Inc. (NYSE:FSLY) Receives Consensus Rating of "Hold" from Analysts

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have earned an average recommendation of "Hold" from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.28.

Several brokerages have recently weighed in on FSLY. Royal Bank Of Canada increased their target price on shares of Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. Morgan Stanley increased their price objective on Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Piper Sandler increased their price target on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. KeyCorp raised Fastly to a "sector weight" rating in a report on Thursday, June 5th. Finally, Oppenheimer assumed coverage on shares of Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating for the company.

Insider Buying and Selling at Fastly

In related news, CRO Scott R. Lovett sold 127,608 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total value of $886,875.60. Following the completion of the sale, the executive now owns 1,287,145 shares in the company, valued at $8,945,657.75. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $7.41, for a total transaction of $88,920.00. Following the completion of the sale, the chief financial officer now owns 635,053 shares of the company's stock, valued at $4,705,742.73. This trade represents a 1.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,283 shares of company stock valued at $1,227,657. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fastly

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Fastly by 2.0% during the first quarter. Vanguard Group Inc. now owns 15,590,433 shares of the company's stock worth $98,687,000 after purchasing an additional 300,572 shares during the last quarter. Legal & General Group Plc raised its position in shares of Fastly by 2.4% during the 4th quarter. Legal & General Group Plc now owns 8,025,959 shares of the company's stock worth $75,765,000 after purchasing an additional 189,667 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Fastly by 83.1% in the first quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company's stock worth $45,434,000 after acquiring an additional 3,256,629 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Fastly in the fourth quarter worth $35,334,000. Finally, First Trust Advisors LP raised its holdings in shares of Fastly by 4.9% in the fourth quarter. First Trust Advisors LP now owns 3,139,255 shares of the company's stock worth $29,635,000 after acquiring an additional 147,458 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Stock Performance

NYSE:FSLY traded down $0.04 during mid-day trading on Thursday, reaching $6.77. 11,852,448 shares of the stock were exchanged, compared to its average volume of 3,106,160. The company has a 50 day simple moving average of $6.85 and a 200-day simple moving average of $7.89. The stock has a market capitalization of $978.83 million, a P/E ratio of -6.21 and a beta of 1.29. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.16. Fastly has a 1 year low of $4.65 and a 1 year high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Analysts anticipate that Fastly will post -0.78 earnings per share for the current fiscal year.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.