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

Key Points

• Fastly, Inc. has received an average recommendation of "Hold" from ten brokerages, with one sell, eight hold, and one buy rating from analysts.
• The company's average 12-month price objective is $8.6875, with recent upgrades from various analysts, including Craig Hallum raising the target price to $10.00.
• Fastly reported a quarterly revenue of $148.71 million, exceeding analyst expectations, and had a year-over-year revenue increase of 12.3%.

Fastly, Inc. (NYSE:FSLY - Get Free Report) has received an average recommendation of "Hold" from the ten brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.6875.

Several equities analysts have recently commented on the stock. Craig Hallum upgraded shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 target price for the company in a research report on Thursday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Fastly in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their target price on Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th.

Fastly Price Performance

Shares of NYSE FSLY opened at $8.23 on Wednesday. The business has a fifty day moving average price of $7.98 and a two-hundred day moving average price of $7.19. The stock has a market capitalization of $1.21 billion, a PE ratio of -7.99 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49. Fastly has a fifty-two week low of $4.65 and a fifty-two week high of $12.08.

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

Insider Buying and Selling

In other news, CEO Charles Lacey Compton III sold 11,378 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $8.41, for a total value of $95,688.98. Following the completion of the transaction, the chief executive officer owned 659,313 shares of the company's stock, valued at approximately $5,544,822.33. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $8.22, for a total transaction of $164,400.00. Following the completion of the sale, the chief technology officer owned 3,401,276 shares in the company, valued at approximately $27,958,488.72. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 537,933 shares of company stock worth $4,327,759 in the last ninety days. 6.70% of the stock is owned by insiders.

Institutional Trading of Fastly

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Fastly by 2.0% during the first quarter. Vanguard Group Inc. now owns 15,590,433 shares of the company's stock worth $98,687,000 after buying an additional 300,572 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Fastly by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 8,943,224 shares of the company's stock valued at $63,139,000 after acquiring an additional 291,617 shares in the last quarter. Penserra Capital Management LLC grew its position in Fastly by 83.1% during the 1st quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company's stock worth $45,434,000 after acquiring an additional 3,256,629 shares during the last quarter. Marshall Wace LLP increased its holdings in Fastly by 115.2% in the 2nd quarter. Marshall Wace LLP now owns 3,385,167 shares of the company's stock worth $23,899,000 after purchasing an additional 1,811,935 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Fastly by 6.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,212,253 shares of the company's stock worth $22,681,000 after purchasing an additional 189,423 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.