Fastly (NYSE:FSLY) Stock Price Expected to Rise, KeyCorp Analyst Says

Fastly (NYSE:FSLY) had its price objective upped by equities research analysts at KeyCorp from $27.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 29.22% from the company’s previous close.

FSLY has been the topic of a number of other research reports. Canaccord Genuity Group began coverage on Fastly in a research note on Friday, July 17th. They set a “buy” rating and a $27.00 price objective on the stock. Piper Sandler cut their target price on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Citigroup upped their target price on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Royal Bank Of Canada decreased their price target on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Finally, Evercore reiterated an “outperform” rating on shares of Fastly in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and a consensus target price of $24.11.

Fastly Price Performance

Shares of NYSE FSLY traded down $2.81 during trading on Thursday, reaching $23.22. The company had a trading volume of 3,922,977 shares, compared to its average volume of 9,866,726. Fastly has a twelve month low of $6.70 and a twelve month high of $34.82. The stock has a market capitalization of $3.63 billion, a PE ratio of -24.02 and a beta of 0.34. The stock has a 50-day moving average price of $19.42 and a two-hundred day moving average price of $19.90. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 32,181 shares of Fastly stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $16.85, for a total value of $542,249.85. Following the transaction, the chief technology officer directly owned 2,086,529 shares of the company’s stock, valued at $35,158,013.65. The trade was a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 34,334 shares of Fastly stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $16.85, for a total value of $578,527.90. Following the completion of the transaction, the chief executive officer directly owned 1,099,561 shares in the company, valued at $18,527,602.85. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 274,529 shares of company stock worth $4,761,780 in the last three months. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLY. PNC Financial Services Group Inc. grew its stake in Fastly by 84.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fastly in the 4th quarter valued at $41,000. Align Financial LLC purchased a new position in shares of Fastly in the 4th quarter valued at $41,000. Sound Income Strategies LLC acquired a new position in shares of Fastly during the 1st quarter valued at $44,000. Finally, Quarry LP acquired a new position in shares of Fastly during the 3rd quarter valued at $49,000. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly News Roundup

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: Fastly reported record second-quarter revenue of $183.3 million, up 23.3% year over year, beating Wall Street estimates by 5.34%. Non-GAAP earnings were $0.15 per share, more than double the $0.07 consensus estimate and an improvement from a year-earlier loss. Fastly Reports Upbeat Q2 Results
• Positive Sentiment: Security revenue increased 43%, while gross margin reached a record 65.8%. The results suggest Fastly’s security and edge-cloud offerings are gaining traction and supporting stronger profitability. Fastly Q2 Earnings Call Highlights
• Positive Sentiment: Management raised its full-year outlook and issued third-quarter revenue guidance of approximately $184 million to $190 million, above the $180.1 million analyst consensus. Third-quarter EPS guidance of $0.11 to $0.13 also significantly exceeded the $0.01 consensus, and full-year EPS guidance was set at $0.50 to $0.54. Fastly Raises Full-Year Outlook
• Neutral Sentiment: Fastly’s partnership with Experian’s Agent Trust ecosystem could strengthen its role in securing AI-agent traffic and autonomous transactions at the network edge, providing a longer-term growth opportunity. Fastly Joins Experian Agent Trust Ecosystem
• Negative Sentiment: Despite the earnings beat and raised guidance, shares reportedly weakened after the release. Investors may be taking profits after a roughly 299% one-year gain, with valuation concerns leaving limited room for execution missteps or slower growth. Fastly Stock Reaction to Q2 Results

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.