Fastly, Inc. (NYSE:FSLY) Given Average Rating of "Hold" by Analysts

Fastly, Inc. (NYSE:FSLY - Get Free Report) has received a consensus rating of "Hold" from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.28.

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

Fastly Trading Up 2.1%

Shares of NYSE FSLY opened at $6.77 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.50 and a current ratio of 1.50. Fastly has a 52-week low of $4.65 and a 52-week high of $12.08. The firm has a 50 day moving average price of $6.80 and a two-hundred day moving average price of $7.96. The stock has a market cap of $979.70 million, a P/E ratio of -6.21 and a beta of 1.29.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of $144.47 million during the quarter, compared to the consensus estimate of $138.40 million. Fastly had a negative return on equity of 12.29% and a negative net margin of 27.73%. Fastly's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, equities analysts forecast that Fastly will post -0.78 EPS for the current year.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 12,547 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total value of $90,212.93. Following the transaction, the chief executive officer now owns 1,904,388 shares of the company's stock, valued at approximately $13,692,549.72. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ronald W. Kisling sold 5,342 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $5.26, for a total value of $28,098.92. Following the completion of the transaction, the chief financial officer now directly owns 665,693 shares in the company, valued at approximately $3,501,545.18. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,675 shares of company stock valued at $340,781 over the last 90 days. Insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC lifted its position in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after purchasing an additional 3,221 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Fastly during the first quarter valued at about $38,000. GAMMA Investing LLC lifted its holdings in Fastly by 451.7% during the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after purchasing an additional 5,945 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Fastly during the fourth quarter valued at about $72,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

About Fastly

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.

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