Fastly (NYSE:FSLY) Stock Price Up 6.6% - What's Next?

Key Points

• Fastly's stock increased by 6.6% in trading, reaching a high of $8.07 and closing at $8.24, although trading volume was down significantly by 93% compared to its average daily volume.
• Analysts have mixed opinions on Fastly, with one "Buy" rating and nine "Hold" ratings, resulting in a consensus price target of $8.69.
• Fastly reported a quarterly revenue of $148.71 million, which was up 12.3% year-over-year, and beat earnings expectations by posting an EPS of ($0.03), exceeding the consensus estimate of ($0.05).

Fastly, Inc. (NYSE:FSLY - Get Free Report)'s share price rose 6.6% during trading on Monday . The company traded as high as $8.07 and last traded at $8.24. Approximately 204,988 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 2,817,435 shares. The stock had previously closed at $7.73.

Analyst Ratings Changes

FSLY has been the subject of a number of research reports. Craig Hallum raised shares of Fastly from a "hold" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, August 7th. Royal Bank Of Canada boosted their price target on shares of Fastly from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Finally, KeyCorp raised shares of Fastly to a "sector weight" rating in a report on Thursday, June 5th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $8.69.

Fastly Stock Up 12.5%

The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -8.46 and a beta of 1.24. The firm's fifty day moving average is $7.15 and its two-hundred day moving average is $6.86. 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 posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The business had revenue of $148.71 million during the quarter, compared to the consensus estimate of $144.86 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company's quarterly revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts expect that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In other Fastly news, Director Richard Devon Daniels sold 18,248 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $7.61, for a total value of $138,867.28. Following the sale, the director directly owned 67,652 shares in the company, valued at approximately $514,831.72. The trade was a 21.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Lacey Compton III sold 15,335 shares of the business'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 $105,504.80. Following the sale, the chief executive officer owned 673,645 shares in the company, valued at approximately $4,634,677.60. The trade was a 2.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 300,781 shares of company stock valued at $2,144,833 in the last ninety days. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new position in Fastly in the 1st quarter valued at approximately $38,000. GAMMA Investing LLC increased its holdings in Fastly by 451.7% in the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock worth $46,000 after buying an additional 5,945 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Fastly in the first quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fastly in the fourth quarter worth approximately $105,000. Finally, Oxford Asset Management LLP acquired a new position in Fastly in the second quarter worth approximately $83,000. 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.

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