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

Key Points

• Fastly, Inc. has received a consensus rating of "Hold" from ten analysts, with nine recommending hold and one recommending buy, while the average target price is $8.6875.
• The company reported a quarterly revenue of $148.71 million, beating analyst estimates, and earnings per share of ($0.03), which surpassed expectations by $0.02.
• Significant insider selling occurred recently, with CTO Artur Bergman and another insider disposing of large shares, leading to a 1.62% and 13.31% decrease in their respective ownerships.

Fastly, Inc. (NYSE:FSLY - Get Free Report) has been given a consensus recommendation of "Hold" by the ten analysts that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.6875.

A number of research firms have weighed in on FSLY. Craig Hallum upgraded shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Thursday, August 7th. KeyCorp upgraded shares of Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada increased their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th.

Fastly Stock Up 1.9%

Shares of FSLY opened at $8.50 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49. The company has a 50-day simple moving average of $7.47 and a 200-day simple moving average of $6.99. Fastly has a 52 week low of $4.65 and a 52 week high of $12.08. The firm has a market capitalization of $1.25 billion, a P/E ratio of -8.25 and a beta of 1.24.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 analyst estimates of $144.86 million. During the same period in the previous year, the company posted ($0.07) earnings per share. The company's quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Fastly will post -0.78 earnings per share for the current year.

Insider Transactions at Fastly

In other Fastly news, CTO Artur Bergman sold 58,138 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $7.41, for a total transaction of $430,802.58. Following the completion of the transaction, the chief technology officer directly owned 3,521,276 shares in the company, valued at $26,092,655.16. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott R. Lovett sold 178,931 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $8.28, for a total transaction of $1,481,548.68. Following the completion of the sale, the insider owned 1,165,185 shares in the company, valued at $9,647,731.80. This represents a 13.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 468,738 shares of company stock valued at $3,736,780. Corporate insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FSLY. Banque Transatlantique SA bought a new position in Fastly in the 1st quarter valued at $38,000. GAMMA Investing LLC raised its stake in shares of Fastly by 451.7% during the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock worth $46,000 after buying an additional 5,945 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Fastly during the 1st quarter worth $52,000. Oxford Asset Management LLP bought a new position in shares of Fastly in the 2nd quarter worth $83,000. Finally, Acadian Asset Management LLC acquired a new position in Fastly in the first quarter valued at about $78,000. Institutional investors own 79.71% of the company's stock.

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.

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.