Fastly (NYSE:FSLY) Receives “Neutral” Rating from Piper Sandler

Fastly (NYSE:FSLY)‘s stock had its “neutral” rating reissued by stock analysts at Piper Sandler in a note issued to investors on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock, down from their previous target price of $10.00. Piper Sandler’s price target would indicate a potential upside of 18.97% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Citigroup lifted their target price on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Robert W. Baird increased their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. DA Davidson lifted their price objective on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.75.

Fastly Stock Performance

NYSE FSLY traded down $2.51 during trading on Thursday, reaching $7.57. The company’s stock had a trading volume of 6,577,416 shares, compared to its average volume of 2,769,744. The business’s fifty day moving average price is $10.03 and its 200-day moving average price is $8.11. Fastly has a twelve month low of $5.52 and a twelve month high of $23.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -6.97 and a beta of 1.26.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. As a group, analysts anticipate that Fastly will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of Fastly stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the completion of the transaction, the chief executive officer now owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Artur Bergman sold 16,922 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $105,762.50. Following the completion of the sale, the chief technology officer now owns 6,138,900 shares in the company, valued at $38,368,125. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 260,152 shares of company stock valued at $2,287,883. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Fastly

Several hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC boosted its stake in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after acquiring an additional 2,960 shares during the last quarter. FMR LLC lifted its holdings in Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Fastly during the fourth quarter worth about $72,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Fastly in the fourth quarter valued at approximately $83,000. Hedge funds and other 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.