Shares of Fastly, Inc. (NYSE:FSLY – Get Rating) have been assigned a consensus recommendation of “Hold” from the nine research firms that currently cover the company, reports MarketBeat Ratings. Three equity research analysts gave the stock a sell rating, one issued a hold rating and one gave the company a strong buy rating. The 1-year average target price among analysts who have reported on the stock in the past year is $12.39.

→ Is this the end of capitalism? (From Porter & Company)

A number of brokerages have recently commented on FSLY. Piper Sandler reduced her price target on Fastly from $13.00 to $10.00 in a Thursday, November 3 research note. Credit Suisse Group launched coverage on Fastly in a research note on Monday, November 21. They issued a “neutral” rating and a target price of $9.50 for the company. Citigroup lowered its target price on Fastly from $10.00 to $8.00 and set a “sell” rating for the company in a Tuesday, Nov. 8 research note. Finally, Morgan Stanley lowered its price target on Fastly from $12.00 to $9.00 and set an “underweight” rating for the company in a Thursday, Oct. 20 research note.

Insider buying and selling

Separately, Chief Financial Officer Ronald W. Kisling sold 5,894 shares of the company in a trade dated Wednesday, January 18. The stock was sold at an average price of $10.39, for a total transaction of $61,238.66. Following the sale, the CFO now owns 371,688 shares of the company, valued at $3,861,838.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In other Fastly news, director David Hornik sold 396,542 shares of the company in a trade that took place on Friday, November 11. The stock was sold at an average price of $9.92, for a total value of $3,933,696.64. Following the sale, the administrator now owns 197,178 shares of the company, valued at $1,956,005.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, Chief Financial Officer Ronald W. Kisling sold 5,894 shares of the company in a trade that took place on Wednesday, January 18. The shares were sold at an average price of $10.39, for a total value of $61,238.66. Following the completion of the sale, the CFO now owns 371,688 shares of the company, valued at approximately $3,861,838.32. The disclosure of this sale can be found here. During the last quarter, insiders sold 511,393 shares of the company worth $5,113,437. Company insiders own 8.90% of the company’s shares.

Fastly Institutional Trading

Several institutional investors and hedge funds have recently bought and sold shares of FSLY. Legal & General Group Plc increased its stake in Fastly by 114.8% in the second quarter. Legal & General Group Plc now owns 7,466,124 shares of the company valued at $86,682,000 after purchasing an additional 3,989,496 shares during the period. First Trust Advisors LP increased its position in Fastly shares by 65.3% in the first quarter. First Trust Advisors LP now owns 7,846,587 shares of the company valued at $136,374,000 after purchasing an additional 3,099,852 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Fastly in the first quarter valued at approximately $21,322,000. Great West Life Assurance Co. Can acquired a new position in shares of Fastly in the third quarter valued at approximately $7,855,000. Finally, Vanguard Group Inc. increased its position in Fastly shares by 5.6% in the third quarter. Vanguard Group Inc. now owns 10,899,919 shares of the company valued at $99,843,000 after purchasing an additional 582,897 shares in the last quarter. Institutional investors hold 60.74% of the company’s shares.

Stock quickly down 2.9%

NYSE FSLY opened at $9.95 on Thursday. The stock has a fifty-day moving average of $9.04 and a 200-day moving average of $9.52. The stock has a market capitalization of $1.22 billion, a P/E ratio of -5.89 and a beta of 1.30. Fastly has a 52-week minimum of $7.15 and a 52-week maximum of $29.99. The company has a debt ratio of 0.75, a quick ratio of 4.41 and a current ratio of 4.41.

Fastly (NYSE:FSLY – Get Rating) last reported results on Wednesday, November 2. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.03. The company posted revenue of $108.50 million in the quarter, compared to $103.26 million expected by analysts. Fastly had a negative return on equity of 22.82% and a negative net margin of 49.05%. On average, equity research analysts expect Fastly to post -1.89 EPS for the current year.

Fastly Company Profile

(Get a rating)

Fastly, Inc provides real-time content delivery network services. It offers edge computing, edge delivery, edge security, edge applications like load balancing and image optimization, video on demand, and managed edge delivery. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow and Gil Penchina in March 2011 and is based in San Francisco, California.

Further reading

Analyst Recommendations for Fastly (NYSE: FSLY)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider Fastly, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Fastly wasn’t on the list.

Although Fastly currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

ten

Source link

Leave A Reply