Fastly (NYSE:FSLY - Free Report) had its price target trimmed by Morgan Stanley from $8.00 to $7.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.
Other equities research analysts have also recently issued reports about the company. Citigroup lifted their target price on Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Royal Bank of Canada lowered their price objective on shares of Fastly from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Oppenheimer assumed coverage on shares of Fastly in a research note on Thursday, March 20th. They issued a "market perform" rating on the stock. Finally, Piper Sandler decreased their price target on shares of Fastly from $9.00 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, Fastly presently has a consensus rating of "Hold" and a consensus target price of $8.25.
View Our Latest Research Report on Fastly
Fastly Stock Down 3.3 %
FSLY traded down $0.18 during midday trading on Wednesday, reaching $5.21. 1,305,012 shares of the company were exchanged, compared to its average volume of 3,331,305. The company has a market cap of $741.38 million, a price-to-earnings ratio of -4.57 and a beta of 1.43. Fastly has a one year low of $4.65 and a one year high of $13.36. The company's fifty day moving average price is $6.62 and its 200 day moving average price is $8.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.
Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. As a group, analysts expect that Fastly will post -0.78 EPS for the current year.
Insider Transactions at Fastly
In other news, CFO Ronald W. Kisling sold 5,342 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total value of $28,098.92. Following the transaction, the chief financial officer now owns 665,693 shares of the company's stock, valued at approximately $3,501,545.18. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 5,304 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.88, for a total value of $36,491.52. Following the transaction, the chief technology officer now owns 3,669,058 shares of the company's stock, valued at approximately $25,243,119.04. The trade was a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,454 shares of company stock valued at $1,327,218 over the last three months. Company insiders own 6.70% of the company's stock.
Institutional Investors Weigh In On Fastly
Hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC lifted its holdings in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock worth $44,000 after acquiring an additional 2,960 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Fastly by 451.7% during the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock worth $46,000 after purchasing an additional 5,945 shares during the period. FMR LLC grew its stake in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company's stock worth $48,000 after purchasing an additional 3,522 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock valued at $54,000 after purchasing an additional 3,221 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in Fastly in the 4th quarter worth approximately $72,000. 79.71% of the stock is currently owned by institutional investors.
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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