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

Key Points

• Analyst consensus: Fastly has an average rating of "Hold" from 11 analysts (1 sell, 7 hold, 3 buy) with an average 12‑month price target of $16.25.
• Shares have recently traded around $20.95 with a 1‑year range of $5.13–$34.82, a market cap of $3.18 billion, a 50‑day moving average of $22.07 and a 200‑day moving average of $14.10.
• Insider selling: Insiders have sold about 1,478,702 shares (~$28.75 million) in the last 90 days, including CTO Artur Bergman and Scott R. Lovett; insiders now own 6.70% of the company.

Fastly, Inc. (NYSE:FSLY - Get Free Report) has earned an average rating of "Hold" from the eleven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.25.

Several research firms recently commented on FSLY. Craig Hallum cut Fastly from a "buy" rating to a "hold" rating and set a $24.00 price objective on the stock. in a research report on Tuesday. Piper Sandler reaffirmed a "neutral" rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Evercore began coverage on Fastly in a research report on Tuesday. They set an "outperform" rating and a $24.00 price objective on the stock. William Blair raised Fastly from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 12th. Finally, DA Davidson set a $13.00 price objective on Fastly in a research report on Thursday, February 12th.

Fastly Price Performance

Shares of NYSE:FSLY opened at $20.95 on Wednesday. Fastly has a 1-year low of $5.13 and a 1-year high of $34.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The business has a fifty day moving average price of $22.07 and a 200-day moving average price of $14.10. The company has a market capitalization of $3.18 billion, a PE ratio of -21.82 and a beta of 0.62.

Insider Activity at Fastly

In related news, insider Scott R. Lovett sold 41,682 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $26.45, for a total transaction of $1,102,488.90. Following the sale, the insider directly owned 1,503,878 shares of the company's stock, valued at $39,777,573.10. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Artur Bergman sold 265,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $22.79, for a total value of $6,039,350.00. Following the sale, the chief technology officer directly owned 1,604,901 shares in the company, valued at $36,575,693.79. This trade represents a 14.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,478,702 shares of company stock valued at $28,751,555 over the last ninety days. Insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Fastly in the fourth quarter worth about $41,000. Align Financial LLC purchased a new position in Fastly in the fourth quarter worth about $41,000. Byrne Asset Management LLC purchased a new position in Fastly in the third quarter worth about $43,000. C M Bidwell & Associates Ltd. purchased a new position in Fastly in the fourth quarter worth about $54,000. Finally, Quarry LP purchased a new position in Fastly in the third quarter worth about $49,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly's real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.

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