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

Key Points

• Fastly has a consensus analyst rating of “Hold” from 13 covering firms, with an average 12-month price target of about $23.11. The breakdown includes one sell, six holds, five buys, and one strong buy.
• Recent analyst moves were mixed: Raymond James upgraded Fastly to Outperform, while Citigroup raised its target to $25 and kept a neutral view, and Canaccord Genuity initiated coverage with a Buy rating and a $27 target.
• Fastly’s stock recently traded at $19.43, with a market cap of about $3.04 billion and relatively low debt. Insider selling was notable, with the CEO and CTO both selling shares in pre-arranged 10b5-1 transactions.

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have received a consensus recommendation of "Hold" from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $23.1111.

FSLY has been the subject of several research reports. Raymond James Financial upgraded shares of Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 price objective for the company in a research report on Friday, May 8th. Citigroup upped their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Craig Hallum cut shares of Fastly from a "buy" rating to a "hold" rating and set a $24.00 price target on the stock. in a research note on Tuesday, April 14th. Canaccord Genuity Group assumed coverage on shares of Fastly in a report on Friday, July 17th. They issued a "buy" rating and a $27.00 price target for the company. Finally, Piper Sandler dropped their price objective on shares of Fastly to $27.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th.

Fastly Stock Performance

Fastly stock opened at $19.43 on Friday. The stock has a 50-day simple moving average of $18.43 and a 200 day simple moving average of $19.10. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly has a 12-month low of $6.29 and a 12-month high of $34.82. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -20.24 and a beta of 0.34.

Insider Buying and Selling at Fastly

In other news, CTO Artur Bergman sold 32,181 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $542,249.85. Following the transaction, the chief technology officer owned 2,086,529 shares of the company's stock, valued at $35,158,013.65. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 34,334 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $16.85, for a total value of $578,527.90. Following the transaction, the chief executive officer directly owned 1,099,561 shares in the company, valued at $18,527,602.85. This trade represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 274,529 shares of company stock worth $4,761,780. Insiders own 4.20% of the company's stock.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLY. Convergence Investment Partners LLC bought a new stake in Fastly in the first quarter valued at about $1,951,000. Range Financial Group LLC acquired a new position in Fastly in the first quarter valued at about $1,667,000. Vanguard Group Inc. grew its position in shares of Fastly by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company's stock worth $172,825,000 after buying an additional 310,234 shares during the period. First Trust Advisors LP increased its stake in shares of Fastly by 100.5% in the 1st quarter. First Trust Advisors LP now owns 7,031,952 shares of the company's stock valued at $204,349,000 after acquiring an additional 3,524,763 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Fastly by 90.7% in the 1st quarter. SG Americas Securities LLC now owns 685,415 shares of the company's stock valued at $19,918,000 after acquiring an additional 326,087 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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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