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

Key Points

• Fastly, Inc. has received a consensus recommendation of "Hold" from ten research firms, with nine analysts rating the stock as hold and one as buy, while the average price target is set at $8.69.
• The company reported a quarterly earnings result with an EPS of ($0.03), surpassing analysts' expectations, and revenue of $148.71 million, reflecting a 12.3% year-over-year increase.
• Insider trading activity includes sales by CTO Artur Bergman and Scott R. Lovett, who sold shares at prices around $6.88 and $7.33, respectively, leading to a decrease in their individual ownership percentages.

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have been given an average recommendation of "Hold" by the ten research firms that are presently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.6875.

Several research analysts have commented on the company. Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a research report on Thursday, August 7th. Piper Sandler boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on Fastly from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Royal Bank Of Canada boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, KeyCorp upgraded Fastly to a "sector weight" rating in a research report on Thursday, June 5th.

Fastly Stock Performance

Shares of NYSE FSLY opened at $7.60 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $7.05 and its two-hundred day moving average is $6.85. The company has a market cap of $1.12 billion, a P/E ratio of -7.37 and a beta of 1.24. Fastly has a 12 month low of $4.65 and a 12 month 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 the consensus estimate of ($0.05) by $0.02. The company had revenue of $148.71 million for the quarter, compared to the consensus estimate of $144.86 million. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%.The company's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities analysts expect that Fastly will post -0.78 EPS for the current year.

Insider Activity

In other news, insider Scott R. Lovett sold 9,076 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $6.88, for a total transaction of $62,442.88. Following the sale, the insider directly owned 1,344,735 shares in the company, valued at approximately $9,251,776.80. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Artur Bergman sold 19,353 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $7.33, for a total value of $141,857.49. Following the sale, the chief technology officer owned 3,580,263 shares in the company, valued at approximately $26,243,327.79. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,194 shares of company stock worth $1,410,150. Company insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

Several institutional investors have recently bought and sold shares of the stock. Cim Investment Management Inc. boosted its stake in Fastly by 100.7% in the 2nd quarter. Cim Investment Management Inc. now owns 38,304 shares of the company's stock valued at $270,000 after buying an additional 19,223 shares in the last quarter. State of Wyoming acquired a new position in Fastly in the second quarter worth $373,000. Caxton Associates LLP boosted its stake in Fastly by 65.8% in the second quarter. Caxton Associates LLP now owns 209,633 shares of the company's stock worth $1,480,000 after purchasing an additional 83,198 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Fastly by 64.4% in the second quarter. Tower Research Capital LLC TRC now owns 14,475 shares of the company's stock worth $102,000 after purchasing an additional 5,670 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new position in Fastly in the second quarter worth $265,000. Institutional investors and hedge funds 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.