Fastly, Inc. (NYSE:FSLY) Given Average Recommendation of "Hold" by Brokerages

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 been given a consensus recommendation of "Hold" by the ten analysts that are presently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.6875.

A number of brokerages have recently issued reports on FSLY. Royal Bank Of Canada boosted their target price on shares of Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Thursday. Morgan Stanley boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Craig Hallum raised shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday. KeyCorp raised shares of Fastly to a "sector weight" rating in a research note on Thursday, June 5th. Finally, Piper Sandler lifted their target price on Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th.

Insider Buying and Selling

In other Fastly news, CRO Scott R. Lovett sold 127,608 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $6.95, for a total transaction of $886,875.60. Following the completion of the sale, the executive owned 1,287,145 shares in the company, valued at $8,945,657.75. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Nightingale sold 12,547 shares of Fastly stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.19, for a total value of $90,212.93. Following the completion of the transaction, the chief executive officer owned 1,904,388 shares in the company, valued at $13,692,549.72. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,124 shares of company stock valued at $1,138,628 over the last 90 days. Corporate insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

A number of institutional investors have recently made changes to their positions in FSLY. Mariner LLC increased its stake in Fastly by 18.0% during the 4th quarter. Mariner LLC now owns 22,868 shares of the company's stock valued at $216,000 after purchasing an additional 3,487 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Fastly by 28.3% during the fourth quarter. Northern Trust Corp now owns 1,577,729 shares of the company's stock valued at $14,894,000 after buying an additional 348,451 shares during the last quarter. Deutsche Bank AG increased its position in shares of Fastly by 16.6% in the 4th quarter. Deutsche Bank AG now owns 255,409 shares of the company's stock valued at $2,411,000 after acquiring an additional 36,333 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Fastly in the 1st quarter worth $91,000. Finally, Allianz Asset Management GmbH acquired a new stake in Fastly during the 1st quarter worth about $111,000. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Stock Up 14.5%

Shares of NYSE:FSLY opened at $7.47 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.50 and a quick ratio of 1.50. The business has a 50 day simple moving average of $7.10 and a two-hundred day simple moving average of $7.22. Fastly has a 1 year low of $4.65 and a 1 year high of $12.08. The firm has a market capitalization of $1.08 billion, a PE ratio of -7.25 and a beta of 1.19.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Fastly had a negative return on equity of 11.91% and a negative net margin of 25.85%. The company had revenue of $148.71 million during the quarter, compared to analysts' expectations of $144.86 million. During the same quarter in the previous year, the business earned ($0.07) EPS. Fastly's revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Fastly will post -0.78 EPS for the current 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.

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