Fastly, Inc. (NYSE:FSLY) Receives $16.25 Consensus Price Target from Analysts

Fastly, Inc. (NYSE:FSLY) has received an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.25.

A number of analysts recently issued reports on FSLY shares. William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Citigroup lifted their price objective on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Piper Sandler reissued a “neutral” rating and set a $14.00 price objective (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. DA Davidson set a $13.00 price objective on Fastly in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada lifted their price objective on Fastly from $12.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd.

Fastly Stock Performance

Shares of Fastly stock opened at $24.56 on Wednesday. The stock has a market cap of $3.73 billion, a PE ratio of -25.58 and a beta of 0.62. The business has a fifty day simple moving average of $23.03 and a 200-day simple moving average of $14.35. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly has a 12 month low of $5.13 and a 12 month high of $34.82.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 275,234 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $20.56, for a total transaction of $5,658,811.04. Following the transaction, the chief technology officer directly owned 1,909,901 shares in the company, valued at $39,267,564.56. This trade represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Lacey Compton III sold 73,206 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total value of $1,532,933.64. Following the transaction, the chief executive officer owned 875,831 shares in the company, valued at approximately $18,339,901.14. This trade represents a 7.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,469,658 shares of company stock worth $28,669,526 over the last three months. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of hedge funds have recently modified their holdings of FSLY. Amundi grew its stake in shares of Fastly by 11.3% in the 1st quarter. Amundi now owns 46,624 shares of the company’s stock valued at $277,000 after purchasing an additional 4,724 shares during the period. AQR Capital Management LLC acquired a new position in shares of Fastly in the 1st quarter valued at $837,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fastly by 1.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 466,042 shares of the company’s stock valued at $2,950,000 after purchasing an additional 6,247 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Fastly by 963.6% in the 1st quarter. Jones Financial Companies Lllp now owns 60,838 shares of the company’s stock valued at $385,000 after purchasing an additional 55,118 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Fastly by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after purchasing an additional 165,937 shares during the period. Institutional investors own 79.71% of the company’s stock.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.