Fastly (NYSE:FSLY) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Fastly's stock has been reissued a "sell (D-)" rating by Weiss Ratings, indicating a bearish outlook from analysts.
• Despite the downgrade, other analysts have shown more optimism, with Craig Hallum upgrading Fastly to a "buy" rating and setting a price target of $10, while the average target price currently sits at $8.69.
• Fastly's revenue for the last quarter reached $148.71 million, surpassing expectations, while the company reported a negative earnings per share of ($0.03).

Fastly (NYSE:FSLY - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research firms also recently weighed in on FSLY. Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price target on Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fastly currently has an average rating of "Hold" and an average target price of $8.69.

Fastly Price Performance

NYSE FSLY opened at $8.57 on Wednesday. The business has a 50 day simple moving average of $7.72 and a 200 day simple moving average of $7.08. Fastly has a 52-week low of $4.65 and a 52-week high of $12.08. 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 stock has a market cap of $1.26 billion, a price-to-earnings ratio of -8.32 and a beta of 1.30.

Fastly (NYSE:FSLY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $148.71 million during the quarter, compared to analysts' expectations of $144.86 million. During the same period in the prior year, the business earned ($0.07) EPS. Fastly's revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts anticipate that Fastly will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Artur Bergman sold 20,000 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $8.76, for a total value of $175,200.00. Following the completion of the sale, the chief technology officer owned 3,421,276 shares of the company's stock, valued at approximately $29,970,377.76. This represents a 0.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott R. Lovett sold 42,172 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $8.41, for a total value of $354,666.52. Following the completion of the sale, the insider directly owned 1,088,551 shares of the company's stock, valued at approximately $9,154,713.91. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 508,738 shares of company stock valued at $4,082,580. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fastly

Large investors have recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new stake in shares of Fastly in the 1st quarter valued at approximately $38,000. GAMMA Investing LLC boosted its holdings in shares of Fastly by 451.7% in the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after buying an additional 5,945 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Fastly in the 1st quarter valued at approximately $52,000. Oxford Asset Management LLP acquired a new stake in Fastly during the 2nd quarter valued at $83,000. Finally, Acadian Asset Management LLC acquired a new stake in Fastly during the 1st quarter valued at $78,000. Institutional investors and hedge funds own 79.71% of the company's stock.

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.

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