Fastly (NYSE:FSLY) Price Target Raised to $7.50

Fastly (NYSE:FSLY) had its price objective upped by research analysts at DA Davidson from $5.50 to $7.50 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s target price suggests a potential downside of 2.15% from the company’s previous close. DA Davidson also issued estimates for Fastly’s Q4 2024 earnings at ($0.19) EPS.

A number of other research analysts have also commented on the stock. Piper Sandler upped their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday. Craig Hallum upped their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird boosted their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, Fastly has an average rating of “Hold” and a consensus target price of $7.94.

Fastly Price Performance

FSLY opened at $7.67 on Thursday. The business has a 50 day moving average of $7.09 and a 200-day moving average of $7.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. Fastly has a 1-year low of $5.52 and a 1-year high of $25.87.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $132.37 million during the quarter, compared to the consensus estimate of $131.62 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) EPS. On average, equities analysts expect that Fastly will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In other news, CEO Todd Nightingale sold 66,066 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $408,287.88. Following the sale, the chief executive officer now owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Todd Nightingale sold 66,066 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at $10,277,043.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 15,933 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $98,465.94. Following the sale, the chief financial officer now owns 570,124 shares in the company, valued at approximately $3,523,366.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,628 shares of company stock valued at $1,287,959. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fastly

A number of hedge funds have recently added to or reduced their stakes in FSLY. Point72 DIFC Ltd bought a new position in Fastly in the 2nd quarter valued at $38,000. Cambridge Trust Co. acquired a new stake in Fastly in the first quarter worth about $39,000. Cape Investment Advisory Inc. raised its holdings in Fastly by 27,666.7% during the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after purchasing an additional 4,150 shares during the last quarter. EMC Capital Management lifted its position in Fastly by 400.0% during the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after purchasing an additional 6,000 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Fastly by 95.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after purchasing an additional 4,318 shares during the last quarter. Institutional investors own 79.71% of the company’s stock.

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.