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

Fastly, Inc. (NYSE:FSLY) has received an average 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 rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $18.56.

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

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 50,708 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now directly owns 1,371,348 shares of the company’s stock, valued at $22,064,989.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Fastly news, CEO Todd Nightingale sold 50,708 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now directly owns 1,371,348 shares of the company’s stock, valued at $22,064,989.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Devon Daniels sold 7,766 shares of the stock in a transaction dated Friday, March 15th. The stock was 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 $434,592.48. The disclosure for this sale can be found here. Insiders have sold a total of 221,076 shares of company stock valued at $3,620,434 over the last three months. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hanseatic Management Services Inc. bought a new position in Fastly during the third quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Fastly in the third quarter worth $36,000. Allworth Financial LP increased its stake in shares of Fastly by 1,420.9% in the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after buying an additional 1,975 shares during the period. Hollencrest Capital Management purchased a new position in shares of Fastly in the third quarter worth $58,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Fastly in the fourth quarter worth $61,000. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Performance

NYSE FSLY opened at $12.95 on Friday. Fastly has a 1 year low of $11.61 and a 1 year 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 cap of $1.74 billion, a price-to-earnings ratio of -12.45 and a beta of 1.22. The company has a fifty day moving average price of $13.34 and a 200-day moving average price of $16.32.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. As a group, equities research analysts predict 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.