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

Fastly, Inc. (NYSE:FSLY) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $19.11.

A number of research analysts have weighed in on FSLY shares. Citigroup upgraded shares of Fastly from a “sell” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $20.00 in a research note on Monday, January 22nd. Royal Bank of Canada upgraded shares of Fastly from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Bank of America dropped their target price on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Finally, Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Thursday, February 15th.

Fastly Stock Down 0.5 %

Fastly stock opened at $12.82 on Friday. Fastly has a fifty-two week low of $11.61 and a fifty-two week high of $25.87. The stock has a market cap of $1.72 billion, a PE ratio of -12.33 and a beta of 1.22. The firm’s 50-day simple moving average is $13.47 and its 200 day simple moving average is $16.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $137.78 million for the quarter, compared to analysts’ expectations of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. Research analysts predict that Fastly will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Artur Bergman sold 21,875 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.19, for a total transaction of $551,031.25. Following the sale, the insider now directly owns 6,050,259 shares in the company, valued at approximately $152,406,024.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,076 shares of company stock valued at $3,620,434. Company insiders own 7.60% of the company’s stock.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLY. First Trust Advisors LP increased its holdings in Fastly by 21.8% during the 4th quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after acquiring an additional 998,749 shares during the period. Legal & General Group Plc increased its holdings in shares of Fastly by 13.3% in the 3rd quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock worth $127,057,000 after buying an additional 778,677 shares during the last quarter. Norges Bank bought a new position in shares of Fastly in the 4th quarter worth $8,014,000. Lisanti Capital Growth LLC bought a new position in shares of Fastly in the 3rd quarter worth $8,327,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Fastly in the 3rd quarter worth $7,577,000. Institutional investors own 79.71% of the company’s stock.

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.