Fastly (NYSE:FSLY) Stock Price Up 7.9% - What's Next?

Fastly, Inc. (NYSE:FSLY - Get Free Report)'s share price was up 7.9% during trading on Monday . The stock traded as high as $8.27 and last traded at $8.27. Approximately 3,893,881 shares changed hands during trading, an increase of 26% from the average daily volume of 3,078,503 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FSLY shares. Oppenheimer started coverage on Fastly in a research note on Thursday, March 20th. They set a "market perform" rating for the company. Morgan Stanley upped their price target on Fastly from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Royal Bank of Canada upped their price target on Fastly from $5.00 to $6.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. KeyCorp upgraded Fastly to a "sector weight" rating in a research note on Thursday, June 5th. Finally, Piper Sandler upped their price target on Fastly from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Fastly currently has a consensus rating of "Hold" and a consensus target price of $8.28.

Fastly Price Performance

The company has a 50-day simple moving average of $6.62 and a 200-day simple moving average of $7.99. The stock has a market cap of $1.13 billion, a PE ratio of -6.85 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. The business had revenue of $144.47 million during the quarter, compared to analysts' expectations of $138.40 million. During the same quarter last year, the business posted ($0.05) earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity

In related news, CEO Todd Nightingale sold 12,547 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93. Following the sale, the chief executive officer now owns 1,904,388 shares of the company's stock, valued at $13,692,549.72. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $6.32, for a total value of $75,840.00. Following the sale, the chief financial officer now directly owns 671,035 shares in the company, valued at approximately $4,240,941.20. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,675 shares of company stock worth $340,781 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Fastly

Large investors have recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new stake in shares of Fastly during the first quarter valued at $38,000. AlphaQuest LLC boosted its stake in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after acquiring an additional 2,960 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Fastly by 451.7% during the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after acquiring an additional 5,945 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Fastly in the 1st quarter worth about $52,000. Finally, Jones Financial Companies Lllp boosted its stake in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock worth $54,000 after buying an additional 3,221 shares during the last quarter. 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.