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

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have been assigned an average rating of "Hold" from the nine ratings firms that are currently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.28.

A number of equities analysts recently commented on FSLY shares. Royal Bank of Canada boosted their target price on shares of Fastly from $5.00 to $6.00 and gave the stock 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 stock an "equal weight" rating in a research note on Thursday, May 8th. Oppenheimer started coverage on shares of Fastly in a research note on Thursday, March 20th. They set a "market perform" rating for the company. Finally, Piper Sandler boosted their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th.

Insider Buying and Selling at Fastly

In related news, CFO Ronald W. Kisling sold 12,000 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the completion of the sale, the chief financial officer now owns 671,035 shares in the company, valued at $4,240,941.20. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Artur Bergman sold 5,304 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total transaction of $36,491.52. Following the completion of the sale, the chief technology officer now owns 3,669,058 shares of the company's stock, valued at approximately $25,243,119.04. The trade was a 0.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,315 shares of company stock worth $245,901 over the last 90 days. Corporate insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On Fastly

A number of hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. purchased a new position in Fastly in the fourth quarter valued at about $35,334,000. Penserra Capital Management LLC increased its holdings in Fastly by 83.1% in the first quarter. Penserra Capital Management LLC now owns 7,177,688 shares of the company's stock valued at $45,434,000 after buying an additional 3,256,629 shares in the last quarter. Marshall Wace LLP purchased a new position in Fastly in the fourth quarter valued at about $7,618,000. Point72 Asset Management L.P. purchased a new position in Fastly in the fourth quarter valued at about $7,088,000. Finally, Two Sigma Investments LP increased its holdings in Fastly by 179.3% in the fourth quarter. Two Sigma Investments LP now owns 1,101,329 shares of the company's stock valued at $10,397,000 after buying an additional 707,053 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.

Fastly Trading Up 0.3%

NYSE FSLY traded up $0.03 on Friday, reaching $7.34. The stock had a trading volume of 1,334,613 shares, compared to its average volume of 3,096,302. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.43 and a beta of 1.47. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly has a 12-month low of $4.65 and a 12-month high of $12.08. The stock has a fifty day moving average price of $6.38 and a two-hundred day moving average price of $7.94.

Fastly (NYSE:FSLY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Fastly will post -0.78 EPS for the current fiscal 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.