Fastly, Inc. (NYSE:FSLY - Get Free Report) was up 6.1% during mid-day trading on Tuesday . The stock traded as high as $7.52 and last traded at $7.51. Approximately 1,006,312 shares changed hands during trading, a decline of 65% from the average daily volume of 2,878,778 shares. The stock had previously closed at $7.08.
Analysts Set New Price Targets
A number of brokerages have commented on FSLY. Royal Bank Of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. KeyCorp upgraded shares of Fastly to a "sector weight" rating in a research report on Thursday, June 5th. Piper Sandler increased their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Finally, Craig Hallum raised Fastly from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $8.69.
View Our Latest Report on FSLY
Fastly Stock Performance
The stock's 50 day moving average is $6.96 and its two-hundred day moving average is $7.00. The firm has a market capitalization of $1.10 billion, a P/E ratio of -7.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49.
Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. The firm had revenue of $148.71 million for the quarter, compared to analysts' expectations of $144.86 million. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. As a group, equities analysts anticipate that Fastly, Inc. will post -0.78 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Fastly news, CEO Charles Lacey Compton III sold 15,335 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.88, for a total value of $105,504.80. Following the transaction, the chief executive officer owned 673,645 shares of the company's stock, valued at approximately $4,634,677.60. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott R. Lovett sold 9,076 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.88, for a total value of $62,442.88. Following the transaction, the insider owned 1,344,735 shares in the company, valued at approximately $9,251,776.80. This trade represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 217,637 shares of company stock worth $1,524,719. Company insiders own 6.70% of the company's stock.
Institutional Investors Weigh In On Fastly
Several large investors have recently bought and sold shares of the company. Banque Transatlantique SA bought a new position in shares of Fastly during the first quarter worth $38,000. GAMMA Investing LLC increased its position 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 in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Fastly during the 1st quarter worth $52,000. Canada Pension Plan Investment Board acquired a new stake in Fastly during the 4th quarter worth $82,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Fastly during the fourth quarter worth about $105,000. Institutional investors own 79.71% of the company's stock.
About Fastly
(
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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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