Fastly (NYSE:FSLY) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Fastly (NYSE:FSLY) had its price target boosted by Royal Bank of Canada from $6.00 to $7.00 in a report published on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Morgan Stanley dropped their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Piper Sandler raised their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Craig Hallum cut their price objective on Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.94.

Fastly Price Performance

FSLY stock opened at $7.60 on Thursday. Fastly has a one year low of $5.52 and a one year high of $25.87. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.05 billion, a PE ratio of -7.04 and a beta of 1.24. The firm has a 50-day moving average of $7.09 and a two-hundred day moving average of $7.54.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The company had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same period in the prior year, the company earned ($0.33) earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that Fastly will post -0.95 earnings per share for the current year.

Insider Activity

In other news, CEO Todd Nightingale sold 66,066 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,662,952 shares in the company, valued at $10,277,043.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related 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 approximately $10,277,043.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Artur Bergman sold 49,178 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total transaction of $396,866.46. Following the sale, the chief technology officer now directly owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,628 shares of company stock worth $1,287,959 over the last 90 days. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in Fastly by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after purchasing an additional 863 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Fastly by 155.4% during the 1st quarter. Private Advisor Group LLC now owns 41,133 shares of the company’s stock worth $533,000 after acquiring an additional 25,030 shares during the period. BNP Paribas Financial Markets increased its stake in Fastly by 11.6% during the first quarter. BNP Paribas Financial Markets now owns 305,797 shares of the company’s stock worth $3,966,000 after acquiring an additional 31,749 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Fastly in the 1st quarter valued at approximately $92,000. Finally, Quantbot Technologies LP grew its holdings in shares of Fastly by 364.2% in the first quarter. Quantbot Technologies LP now owns 68,824 shares of the company’s stock valued at $893,000 after purchasing an additional 53,998 shares in the last quarter. 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.