Fastly (NYSE:FSLY) Stock Rating Upgraded by Evercore

Key Points

• Evercore upgraded Fastly to a "strong-buy" in a research note on Tuesday, joining several other recent analyst upgrades and price-target increases.
• Consensus still "Hold" — MarketBeat shows a consensus rating of Hold with a $16.25 target even as the stock traded around $20.95 (52‑week range $5.13–$34.82), reflecting mixed analyst views.
• Significant insider selling occurred recently: insiders sold about 1.48 million shares worth $28.75 million over the last three months, including CEO Charles Lacey Compton III selling 73,206 shares on March 4th (a ~7.71% reduction in his stake).

Fastly (NYSE:FSLY - Get Free Report) was upgraded by stock analysts at Evercore to a "strong-buy" rating in a research report issued on Tuesday, Marketbeat reports.

Several other equities research analysts also recently issued reports on FSLY. Royal Bank Of Canada boosted their price objective on shares of Fastly from $12.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Monday, March 2nd. William Blair upgraded shares of Fastly from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 12th. DA Davidson set a $13.00 price objective on shares of Fastly in a research note on Thursday, February 12th. Piper Sandler reiterated a "neutral" rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Finally, Citigroup boosted their price objective on shares of Fastly from $10.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Fastly presently has a consensus rating of "Hold" and a consensus target price of $16.25.

Fastly Price Performance

FSLY opened at $20.95 on Tuesday. 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 52-week low of $5.13 and a 52-week high of $34.82. The company has a 50 day moving average of $22.07 and a two-hundred day moving average of $14.10. The company has a market cap of $3.18 billion, a P/E ratio of -21.82 and a beta of 0.62.

Insider Activity

In other news, CEO Charles Lacey Compton III sold 73,206 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total value of $1,532,933.64. Following the completion of the transaction, the chief executive officer directly owned 875,831 shares in the company, valued at approximately $18,339,901.14. This represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott R. Lovett sold 73,715 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $21.06, for a total transaction of $1,552,437.90. Following the completion of the transaction, the insider owned 1,580,513 shares of the company's stock, valued at $33,285,603.78. This trade represents a 4.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,478,702 shares of company stock worth $28,751,555. 6.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in shares of Fastly by 20.9% in the fourth quarter. Hsbc Holdings PLC now owns 35,464 shares of the company's stock valued at $362,000 after purchasing an additional 6,140 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fastly in the fourth quarter valued at $41,000. Sunbelt Securities Inc. boosted its stake in shares of Fastly by 199.8% in the fourth quarter. Sunbelt Securities Inc. now owns 70,868 shares of the company's stock valued at $721,000 after purchasing an additional 47,233 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Fastly in the fourth quarter valued at $11,657,000. Finally, Invesco Ltd. boosted its stake in shares of Fastly by 13.7% in the fourth quarter. Invesco Ltd. now owns 408,148 shares of the company's stock valued at $4,155,000 after purchasing an additional 49,093 shares during the period. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

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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