Fastly (NYSE:FSLY) Price Target Raised to $8.00 at Piper Sandler

by · The Markets Daily

Fastly (NYSE:FSLY – Free Report) had its price target hoisted by Piper Sandler from $6.00 to $8.00 in a research report released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Craig Hallum lowered their price objective on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. One equities research 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 presently has a consensus rating of “Hold” and a consensus target price of $7.94.

Check Out Our Latest Stock Analysis on Fastly

Fastly Price Performance

Shares of NYSE FSLY traded down $0.50 during mid-day trading on Thursday, hitting $7.67. 4,540,180 shares of the stock traded hands, compared to its average volume of 3,557,736. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87. The company has a market cap of $1.06 billion, a PE ratio of -6.07 and a beta of 1.24. The firm has a 50 day simple moving average of $7.01 and a two-hundred day simple moving average of $7.64.

Fastly (NYSE:FSLY – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The business had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. Fastly’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned ($0.32) EPS. As a group, equities research analysts forecast that Fastly will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 49,178 shares of Fastly stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46. Following the completion of the transaction, the chief technology officer now owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. 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 the SEC website. In other news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the transaction, the chief financial officer now owns 558,564 shares in the company, valued at $4,044,003.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Artur Bergman sold 49,178 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the transaction, the chief technology officer now owns 6,155,822 shares in the company, valued at $49,677,483.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,628 shares of company stock worth $1,287,959. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in shares of Fastly in the 2nd quarter worth approximately $38,000. Cambridge Trust Co. bought a new stake in Fastly during the 1st quarter valued at $39,000. Cape Investment Advisory Inc. raised its holdings in Fastly by 27,666.7% during the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after acquiring an additional 4,150 shares during the period. EMC Capital Management raised its holdings in Fastly by 400.0% during the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after acquiring an additional 6,000 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after acquiring an additional 4,318 shares during the period. Institutional investors own 79.71% of the company’s stock.

About Fastly

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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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