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.

Fastly Stock Up 5.5 %

Shares of NYSE:FSLY traded up $0.64 during midday trading on Friday, hitting $12.19. 3,292,416 shares of the stock were exchanged, compared to its average volume of 4,074,770. The company has a market capitalization of $1.49 billion, a PE ratio of -7.39 and a beta of 1.38. Fastly has a 52-week low of $9.50 and a 52-week high of $58.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 5.26 and a current ratio of 4.11. The business's fifty day simple moving average is $11.88 and its two-hundred day simple moving average is $15.75.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FSLY. Citigroup decreased their price target on Fastly from $22.00 to $14.00 and set a "sell" rating for the company in a research report on Friday, May 6th. Morgan Stanley lowered shares of Fastly from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $18.00 to $12.00 in a research note on Monday, July 11th. Raymond James cut their target price on shares of Fastly from $35.00 to $25.00 and set a "strong-buy" rating on the stock in a research note on Friday. Craig Hallum decreased their target price on Fastly from $19.00 to $13.00 in a research report on Thursday, August 4th. Finally, DA Davidson dropped their price target on Fastly to $12.00 in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $14.25.

Insiders Place Their Bets

In other news, EVP Brett Shirk sold 3,008 shares of Fastly stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $10.54, for a total transaction of $31,704.32. Following the completion of the sale, the executive vice president now directly owns 304,223 shares in the company, valued at approximately $3,206,510.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Brett Shirk sold 3,008 shares of the stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $10.54, for a total transaction of $31,704.32. Following the transaction, the executive vice president now owns 304,223 shares in the company, valued at approximately $3,206,510.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joshua Bixby sold 18,480 shares of Fastly stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $11.97, for a total transaction of $221,205.60. Following the completion of the sale, the chief executive officer now directly owns 609,238 shares of the company's stock, valued at approximately $7,292,578.86. The disclosure for this sale can be found here. Insiders have sold a total of 57,687 shares of company stock valued at $689,473 in the last three months. Insiders own 8.90% of the company's stock.