Analysts Set Fastly, Inc. (NYSE:FSLY) PT at $19.11

Shares of Fastly, Inc. (NYSE:FSLY) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.56.

A number of research analysts recently commented on FSLY shares. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Thursday, February 15th. Royal Bank of Canada upgraded shares of Fastly from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Bank of America decreased their price target on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Citigroup decreased their price target on shares of Fastly from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $19.00 to $16.00 in a research report on Monday, April 8th.

Insiders Place Their Bets

In other Fastly news, insider Artur Bergman sold 21,875 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.19, for a total transaction of $551,031.25. Following the completion of the transaction, the insider now owns 6,050,259 shares of the company’s stock, valued at approximately $152,406,024.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Artur Bergman sold 21,875 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.19, for a total value of $551,031.25. Following the sale, the insider now owns 6,050,259 shares of the company’s stock, valued at $152,406,024.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Devon Daniels sold 7,766 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $12.66, for a total transaction of $98,317.56. Following the completion of the sale, the director now directly owns 34,328 shares in the company, valued at approximately $434,592.48. The disclosure for this sale can be found here. Insiders sold a total of 221,076 shares of company stock valued at $3,620,434 in the last quarter. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Fastly

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Hanseatic Management Services Inc. acquired a new position in Fastly in the third quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Fastly during the third quarter worth approximately $36,000. Allworth Financial LP lifted its position in shares of Fastly by 1,420.9% during the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after purchasing an additional 1,975 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of Fastly during the third quarter worth approximately $58,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Fastly during the fourth quarter worth approximately $61,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Price Performance

NYSE FSLY opened at $12.95 on Friday. Fastly has a 12 month low of $11.61 and a 12 month high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. The firm has a market capitalization of $1.74 billion, a PE ratio of -12.45 and a beta of 1.22. The company’s 50 day simple moving average is $13.34 and its 200 day simple moving average is $16.32.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. The business had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. As a group, equities research analysts forecast that Fastly will post -1.07 EPS for the current fiscal year.

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.