Fastly - FSLY Stock Forecast, Price & News

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. It is a programmable platform designed for web and application delivery. The company offers [email protected]; developer hub that includes solution library patterns and recipes, API and language references, change logs, and Fastly Fiddle solutions; device detection and geolocation, edge dictionaries, edge access control lists, and edge authentication services; full site delivery services, such as dynamic site acceleration, origin shield, instant purge, surrogate keys, real-time logging and stats, cloud optimizer, programmatic control, edge databases, content compression, reliability, and modern protocols and performance services; and streaming solutions and services, including live streaming, media shield, and origin connect. It also provides edge security solutions, such as DDoS protection and cloud, edge web application firewall (WAF), transport layer security (TLS), platform TLS, and compliance services; unified web application and API protection solutions that includes runtime self-application protection, advanced rate limiting, API and ATO protection, account takeover protection, bot protection, and next generation WAF. In addition, the company offers edge applications, such as load balancers and image optimizers; video on demand; and managed edge delivery services. It serves customers operating in digital publishing, media and entertainment, technology, online retail, travel and hospitality, and financial services industries. The company was formerly known as SkyCache, Inc. and changed its name to Fastly, Inc. in May 2012. Fastly, Inc. was incorporated in 2011 and is headquartered in San Francisco, California.

Analyst Upgrades and Downgrades

FSLY has been the subject of several research analyst reports. DA Davidson lowered their target price on shares of Fastly to $12.00 in a research note on Tuesday, August 9th. Craig Hallum lowered their price objective on shares of Fastly from $19.00 to $13.00 in a research note on Thursday, August 4th. Piper Sandler lowered their price objective on shares of Fastly from $19.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, July 6th. Raymond James lowered their price objective on shares of Fastly from $35.00 to $25.00 and set a "strong-buy" rating for the company in a research note on Friday, August 12th. Finally, Morgan Stanley lowered shares of Fastly from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $18.00 to $12.00 in a research note on Monday, July 11th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.25.

Fastly Stock Down 5.8 %

Fastly stock traded down $0.69 during trading on Wednesday, reaching $11.19. The stock had a trading volume of 69,637 shares, compared to its average volume of 4,077,399. Fastly has a 52-week low of $9.50 and a 52-week high of $58.62. The business has a 50 day moving average price of $11.86 and a 200 day moving average price of $15.50. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.37 billion, a PE ratio of -7.20 and a beta of 1.38.

Insider Buying and Selling

In related news, Director Richard Devon Daniels acquired 5,000 shares of the business's stock in a transaction on Wednesday, June 1st. The shares were bought at an average price of $12.75 per share, with a total value of $63,750.00. Following the completion of the acquisition, the director now owns 31,014 shares in the company, valued at $395,428.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Richard Devon Daniels bought 5,000 shares of the firm's stock in a transaction on Wednesday, June 1st. The shares were bought at an average cost of $12.75 per share, for a total transaction of $63,750.00. Following the transaction, the director now owns 31,014 shares of the company's stock, valued at $395,428.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Artur Bergman sold 14,319 shares of the business's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $12.18, for a total transaction of $174,405.42. Following the completion of the sale, the insider now owns 6,726,628 shares in the company, valued at $81,930,329.04. The disclosure for this sale can be found here. Insiders sold 22,410 shares of company stock worth $267,207 over the last 90 days. 8.90% of the stock is owned by insiders.