Fastly (NYSE:FSLY) Stock Rating Reaffirmed by 92 Resources

Posted by on May 6th, 2023

Fastly (NYSE:FSLY – Get Rating)‘s stock had its “maintains” rating reaffirmed by equities research analysts at 92 Resources in a report issued on Thursday, Benzinga reports.

A number of other equities research analysts have also weighed in on the stock. William Blair reissued a “market perform” rating on shares of Fastly in a report on Wednesday, April 19th. Piper Sandler upped their price target on shares of Fastly from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Royal Bank of Canada upped their price target on shares of Fastly from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 16th. Robert W. Baird upped their price target on shares of Fastly from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Finally, Credit Suisse Group upped their price target on shares of Fastly from $9.50 to $11.50 and gave the company a “neutral” rating in a report on Thursday, February 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

Fastly Price Performance

Shares of FSLY opened at $11.78 on Thursday. The firm has a market capitalization of $1.49 billion, a PE ratio of -7.46 and a beta of 1.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.18 and a quick ratio of 4.18. Fastly has a 1-year low of $7.15 and a 1-year high of $18.08. The company’s fifty day moving average price is $15.29 and its 200-day moving average price is $11.68.

Fastly (NYSE:FSLY – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $119.32 million for the quarter, compared to analyst estimates of $114.39 million. Fastly had a negative net margin of 38.22% and a negative return on equity of 20.15%. On average, equities research analysts predict that Fastly will post -1.43 EPS for the current year.

Insider Activity

In other news, insider Artur Bergman sold 2,420 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $13.94, for a total value of $33,734.80. Following the sale, the insider now directly owns 6,640,889 shares in the company, valued at approximately $92,573,992.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Artur Bergman sold 2,420 shares of Fastly stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $13.94, for a total transaction of $33,734.80. Following the sale, the insider now directly owns 6,640,889 shares in the company, valued at approximately $92,573,992.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Nightingale sold 54,481 shares of Fastly stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $13.93, for a total transaction of $758,920.33. Following the sale, the chief executive officer now owns 1,183,549 shares in the company, valued at $16,486,837.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,788 shares of company stock worth $4,081,063. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Money Concepts Capital Corp boosted its holdings in shares of Fastly by 5,390.9% in the third quarter. Money Concepts Capital Corp now owns 46,618 shares of the company’s stock valued at $427,000 after acquiring an additional 45,769 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Fastly by 1,066.7% in the third quarter. Vontobel Holding Ltd. now owns 143,314 shares of the company’s stock valued at $1,313,000 after buying an additional 131,030 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Fastly in the third quarter valued at approximately $106,000. Profund Advisors LLC raised its position in shares of Fastly by 19.0% in the third quarter. Profund Advisors LLC now owns 46,443 shares of the company’s stock valued at $425,000 after buying an additional 7,405 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Fastly during the third quarter worth approximately $729,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

Fastly Company Profile

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Fastly, Inc provides real-time content delivery network services. It offers edge compute, 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 headquartered in San Francisco, CA.

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Analyst Recommendations for Fastly (NYSE:FSLY)

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