Fastly, Inc. (NYSE:FSLY) Receives Average Rating of “Hold” from Analysts

Fastly, Inc. (NYSE:FSLY) has received a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.61.

Several research firms have recently weighed in on FSLY. Bank of America lowered shares of Fastly from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a report on Thursday, February 15th. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $19.00 to $16.00 in a report on Monday, April 8th. Citigroup dropped their price objective on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, DA Davidson lowered shares of Fastly from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd.

Fastly Stock Performance

NYSE:FSLY opened at $8.61 on Wednesday. Fastly has a 12-month low of $7.83 and a 12-month high of $25.87. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.18 billion, a PE ratio of -8.61 and a beta of 1.21. The firm has a 50-day moving average price of $11.72 and a 200 day moving average price of $15.65.

Insider Activity

In other news, CEO Todd Nightingale sold 48,640 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $13.93, for a total transaction of $677,555.20. Following the sale, the chief executive officer now directly owns 1,607,821 shares of the company’s stock, valued at $22,396,946.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fastly news, CEO Todd Nightingale sold 48,640 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $13.93, for a total value of $677,555.20. Following the transaction, the chief executive officer now directly owns 1,607,821 shares of the company’s stock, valued at $22,396,946.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ronald W. Kisling sold 14,939 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $13.93, for a total transaction of $208,100.27. Following the completion of the transaction, the chief financial officer now directly owns 514,249 shares in the company, valued at $7,163,488.57. The disclosure for this sale can be found here. Insiders have sold 194,830 shares of company stock valued at $2,179,161 over the last three months. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd boosted its stake in Fastly by 77.7% in the third quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after acquiring an additional 339,820 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Fastly during the third quarter worth $1,942,000. Vanguard Group Inc. boosted its position in shares of Fastly by 3.1% during the third quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after purchasing an additional 381,845 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Fastly during the third quarter worth $477,000. Finally, Moody Aldrich Partners LLC bought a new position in shares of Fastly during the fourth quarter worth $2,155,000. 79.71% of the stock is owned by institutional investors.

Fastly Company Profile

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.