Analysts Set Fastly, Inc. (NYSE:FSLY) Target Price at $8.69

Key Points

• Fastly, Inc. has received a consensus rating of "Hold" from ten analysts, with nine recommending a hold and one issuing a buy recommendation, and the average 12-month target price set at $8.6875.
• Insider transactions included CRO Scott R. Lovett selling over 127,600 shares and CEO Todd Nightingale selling 12,547 shares, indicating notable insider activity in the company.
• Fastly's latest quarterly earnings showed a revenue of $148.71 million, surpassing analysts' expectations, and the company reported a 12.3% year-over-year revenue increase.

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have earned an average recommendation of "Hold" from the ten ratings firms that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.6875.

FSLY has been the topic of several recent analyst reports. Piper Sandler lifted their target price on Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley lifted their target price on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. KeyCorp raised Fastly to a "sector weight" rating in a research note on Thursday, June 5th. Craig Hallum upgraded Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a report on Thursday. Finally, Royal Bank Of Canada raised their price target on Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Thursday.

Fastly Stock Performance

NYSE:FSLY traded down $0.23 on Friday, hitting $6.76. The stock had a trading volume of 654,599 shares, compared to its average volume of 2,889,783. The stock has a market cap of $996.28 million, a price-to-earnings ratio of -6.56 and a beta of 1.19. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The business's 50-day simple moving average is $7.09 and its two-hundred day simple moving average is $7.17. Fastly has a 52-week low of $4.65 and a 52-week high of $12.08.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%. The firm had revenue of $148.71 million for the quarter, compared to the consensus estimate of $144.86 million. During the same quarter last year, the company earned ($0.07) earnings per share. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts predict that Fastly will post -0.78 earnings per share for the current year.

Insider Activity at Fastly

In related news, CFO Ronald W. Kisling sold 12,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $7.41, for a total transaction of $88,920.00. Following the completion of the transaction, the chief financial officer owned 635,053 shares in the company, valued at $4,705,742.73. The trade was a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Scott R. Lovett sold 127,608 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total value of $886,875.60. Following the transaction, the executive owned 1,287,145 shares of the company's stock, valued at approximately $8,945,657.75. The trade was a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,124 shares of company stock worth $1,138,628 in the last quarter. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fastly

A number of institutional investors and hedge funds have recently bought and sold shares of FSLY. Banque Transatlantique SA bought a new stake in Fastly during the 1st quarter valued at $38,000. GAMMA Investing LLC increased its position in Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after buying an additional 5,945 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Fastly during the 1st quarter valued at about $52,000. Acadian Asset Management LLC purchased a new stake in Fastly during the 1st quarter valued at about $78,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Fastly during the 4th quarter valued at about $82,000. 79.71% of the stock is owned by 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.