Fastly (NYSE:FSLY) Reaches New 1-Year Low at $7.47 (2024)

Posted by Defense World Staff on Jun 9th, 2024

Fastly, Inc. (NYSE:FSLY – Get Free Report)’s share price reached a new 52-week low on Friday . The stock traded as low as $7.47 and last traded at $7.51, with a volume of 928406 shares trading hands. The stock had previously closed at $7.72.

Analysts Set New Price Targets

Several research firms have weighed in on FSLY. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Royal Bank of Canada dropped their price objective on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 2nd. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research report on Thursday, February 15th. Citigroup decreased their target price on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $18.00 to $8.00 in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.61.

Read Our Latest Analysis on FSLY

Fastly Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83. The company’s fifty day moving average is $10.48 and its 200-day moving average is $14.84.

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

Insider Activity at Fastly

In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the completion of the transaction, the chief financial officer now directly owns 632,736 shares in the company, valued at approximately $8,225,568. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Ronald W. Kisling sold 23,105 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total value of $204,248.20. Following the completion of the transaction, the chief financial officer now owns 609,631 shares in the company, valued at approximately $5,389,138.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ronald W. Kisling sold 7,486 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the completion of the transaction, the chief financial officer now owns 632,736 shares of the company’s stock, valued at approximately $8,225,568. The disclosure for this sale can be found here. Insiders sold a total of 143,020 shares of company stock worth $1,374,439 in the last ninety days. 6.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fastly

A number of hedge funds have recently made changes to their positions in FSLY. Qube Research & Technologies Ltd increased its position in shares of Fastly by 77.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock worth $14,902,000 after purchasing an additional 339,820 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Fastly during the 3rd quarter worth about $1,942,000. Vanguard Group Inc. increased its position in shares of Fastly by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after purchasing an additional 381,845 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in shares of Fastly during the 4th quarter worth about $2,155,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of Fastly during the 4th quarter worth about $2,990,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.

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