Analysts Set Fastly, Inc. (NYSE:FSLY) PT at $8.28

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

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

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 12,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $7.41, for a total value of $88,920.00. Following the completion of the sale, the chief financial officer directly owned 635,053 shares in the company, valued at approximately $4,705,742.73. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Scott R. Lovett sold 127,608 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 of the company's stock, valued at approximately $8,945,657.75. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,941 shares of company stock worth $1,123,718 over the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC grew its holdings in Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after purchasing an additional 2,960 shares during the period. Jones Financial Companies Lllp grew its holdings in Fastly by 128.9% in 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 period. Banque Transatlantique SA purchased a new stake in Fastly in the first quarter valued at approximately $38,000. GAMMA Investing LLC grew its holdings in Fastly by 451.7% in 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 period. Finally, Wealthfront Advisers LLC purchased a new stake in Fastly in the fourth quarter valued at approximately $72,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Price Performance

Shares of NYSE FSLY traded up $0.04 during midday trading on Monday, hitting $6.86. The company had a trading volume of 1,732,374 shares, compared to its average volume of 3,075,174. 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 twelve month low of $4.65 and a twelve month high of $12.08. The business has a 50-day simple moving average of $7.31 and a two-hundred day simple moving average of $7.47. The firm has a market capitalization of $992.14 million, a price-to-earnings ratio of -6.29 and a beta of 1.23.

Fastly (NYSE:FSLY - Get Free Report) last announced 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. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The firm had revenue of $144.47 million during the quarter, compared to analysts' expectations of $138.40 million. During the same quarter last year, the business earned ($0.05) earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Fastly will post -0.78 earnings per share 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.