Fastly (NYSE:FSLY) had its price target upped by equities researchers at Raymond James from $85.00 to $95.00 in a research note issued on Thursday. The firm presently has an "outperform" rating on the stock. Raymond James' price target indicates a potential upside of 28.00% from the stock's current price.
Several other equities analysts have also commented on the company. Zacks Investment Research reissued an "average" rating on shares of Fastly in a research report on Tuesday. Credit Suisse Group downgraded Fastly from an "outperform" rating to a "neutral" rating and set a $90.00 price objective on the stock. in a report on Wednesday, November 25th. Oppenheimer upgraded Fastly from a "market perform" rating to an "outperform" rating and set a $125.00 price objective on the stock in a report on Thursday, January 21st. Bank of America lowered their price target on Fastly from $90.00 to $75.00 and set an "underperform" rating for the company in a report on Thursday, October 29th. Finally, Craig Hallum lowered their price target on Fastly from $85.00 to $80.00 and set a "hold" rating for the company in a report on Thursday, October 29th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of "Hold" and an average price target of $74.93.
Shares of NYSE FSLY traded down $1.54 during midday trading on Thursday, hitting $74.22. The stock had a trading volume of 94,869 shares, compared to its average volume of 5,335,181. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of -115.59 and a beta of 1.34. Fastly has a 1-year low of $10.63 and a 1-year high of $136.50. The company has a quick ratio of 7.97, a current ratio of 7.97 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $97.89 and a 200 day moving average price of $89.74.
Fastly (NYSE:FSLY) last released its quarterly earnings data on Tuesday, February 16th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.08. Fastly had a negative return on equity of 14.37% and a negative net margin of 24.07%. On average, research analysts forecast that Fastly will post -0.59 EPS for the current year.
In other news, General Counsel Paul Luongo sold 2,083 shares of Fastly stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $106.43, for a total value of $221,693.69. Following the transaction, the general counsel now directly owns 255,174 shares of the company's stock, valued at $27,158,168.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joshua Bixby sold 7,000 shares of Fastly stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $80.78, for a total transaction of $565,460.00. Following the completion of the transaction, the chief executive officer now directly owns 359,309 shares in the company, valued at $29,024,981.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 203,372 shares of company stock worth $17,705,844. 24.33% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of Fastly by 68.2% during the fourth quarter. Morgan Stanley now owns 12,792,269 shares of the company's stock worth $1,117,662,000 after purchasing an additional 5,186,166 shares during the period. First Trust Advisors LP boosted its holdings in shares of Fastly by 92.1% during the fourth quarter. First Trust Advisors LP now owns 3,219,137 shares of the company's stock worth $281,256,000 after purchasing an additional 1,543,316 shares during the period. BlackRock Inc. lifted its stake in Fastly by 44.7% in the third quarter. BlackRock Inc. now owns 3,418,863 shares of the company's stock valued at $320,277,000 after acquiring an additional 1,055,660 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Fastly by 3,572.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 493,239 shares of the company's stock valued at $46,207,000 after acquiring an additional 479,809 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new stake in Fastly in the third quarter valued at approximately $38,211,000. 54.67% of the stock is currently owned by institutional investors and hedge funds.
Fastly Company Profile
Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications. 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. It is a programmable platform designed for Web and application delivery.
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