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

Fastly, Inc. (NYSE:FSLY - Get Free Report) has been given a consensus recommendation of "Hold" by the ten brokerages that are presently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.28.

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

Fastly Stock Down 3.3%

FSLY stock opened at $6.70 on Monday. The firm's fifty day simple moving average is $7.27 and its 200-day simple moving average is $7.52. The company has a market capitalization of $969.42 million, a P/E ratio of -6.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.50 and a quick ratio of 1.50. Fastly has a 12 month low of $4.65 and a 12 month high of $12.08.

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

Insiders Place Their Bets

In other Fastly news, CEO Todd Nightingale sold 12,547 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.19, for a total transaction of $90,212.93. Following the completion of the transaction, the chief executive officer directly owned 1,904,388 shares in the company, valued at approximately $13,692,549.72. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ronald W. Kisling sold 12,000 shares of the company'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 transaction, the chief financial officer owned 635,053 shares of the company's stock, valued at $4,705,742.73. This represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,283 shares of company stock worth $1,151,817. Company insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On Fastly

Hedge funds have recently modified their holdings of the business. Swiss National Bank raised its position in shares of Fastly by 2.2% in the fourth quarter. Swiss National Bank now owns 259,000 shares of the company's stock valued at $2,445,000 after buying an additional 5,500 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Fastly in the fourth quarter valued at about $269,000. Mariner LLC raised its position in shares of Fastly by 18.0% in the fourth quarter. Mariner LLC now owns 22,868 shares of the company's stock valued at $216,000 after buying an additional 3,487 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Fastly in the fourth quarter valued at about $3,717,000. Finally, Northern Trust Corp raised its position in shares of Fastly by 28.3% in 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. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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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