Fastly, Inc. (NYSE:FSLY) Given Average Recommendation of “Hold” by Analysts (2024)

Posted by Defense World Staff on Jun 9th, 2024

Fastly, Inc. (NYSE:FSLY – Get Free Report) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $14.61.

A number of equities analysts have issued reports on FSLY shares. Citigroup decreased their price objective on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $19.00 to $16.00 in a research report on Monday, April 8th. DA Davidson cut shares of Fastly from a “buy” rating to a “neutral” rating and reduced their price target for the company from $24.00 to $8.50 in a research report on Thursday, May 2nd. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Thursday, February 15th. Finally, Royal Bank of Canada reduced their price target on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd.

Get Our Latest Research Report on FSLY

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 23,105 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $204,248.20. Following the transaction, the chief financial officer now owns 609,631 shares in the company, valued at $5,389,138.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Fastly news, CFO Ronald W. Kisling sold 23,105 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $204,248.20. Following the completion of the sale, the chief financial officer now directly owns 609,631 shares of the company’s stock, valued at $5,389,138.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Artur Bergman sold 10,928 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $96,603.52. Following the sale, the chief technology officer now directly owns 6,244,124 shares of the company’s stock, valued at $55,198,056.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,020 shares of company stock worth $1,374,439. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Several institutional investors have recently bought and sold shares of FSLY. Jennison Associates LLC bought a new position in Fastly during the first quarter valued at $13,724,000. First Trust Advisors LP lifted its position in Fastly by 21.8% during the fourth quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock valued at $99,443,000 after purchasing an additional 998,749 shares during the last quarter. Legal & General Group Plc lifted its position in Fastly by 13.3% during the third quarter. Legal & General Group Plc now owns 6,627,895 shares of the company’s stock valued at $127,057,000 after purchasing an additional 778,677 shares during the last quarter. Vanguard Group Inc. lifted its position in Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after purchasing an additional 657,334 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after purchasing an additional 466,560 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Price Performance

FSLY stock opened at $7.48 on Friday. The firm’s 50-day moving average price is $10.48 and its two-hundred day moving average price is $14.84. Fastly has a 12-month low of $7.40 and a 12-month high of $25.87. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -7.48 and a beta of 1.11. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The firm had revenue of $133.52 million for the quarter, compared to analysts’ expectations of $133.01 million. As a group, equities analysts predict that Fastly will post -1.08 earnings per share for the current year.

About Fastly

(Get Free Report

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.