Robert W. Baird Issues Positive Forecast for Fastly (NYSE:FSLY) Stock Price

Fastly (NYSE:FSLY) had its price target raised by Robert W. Baird from $7.00 to $8.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also commented on FSLY. Morgan Stanley decreased their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Piper Sandler upped their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Craig Hallum decreased their price target on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada boosted their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.94.

Fastly Trading Down 6.2 %

Shares of NYSE:FSLY traded down $0.50 during trading hours on Thursday, hitting $7.67. 4,685,835 shares of the company’s stock traded hands, compared to its average volume of 3,558,382. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The business has a fifty day moving average price of $7.09 and a 200-day moving average price of $7.61. Fastly has a 1 year low of $5.52 and a 1 year high of $25.87. The firm has a market capitalization of $1.06 billion, a P/E ratio of -6.18 and a beta of 1.24.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The firm had revenue of $132.37 million during the quarter, compared to the consensus estimate of $131.62 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Fastly will post -0.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the sale, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fastly news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 19,889 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the transaction, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,628 shares of company stock worth $1,287,959. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Several institutional investors have recently modified their holdings of FSLY. Allspring Global Investments Holdings LLC lifted its stake in Fastly by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock valued at $133,000 after buying an additional 863 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Fastly by 41.1% in the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after acquiring an additional 1,643 shares in the last quarter. CWM LLC lifted its position in shares of Fastly by 10.5% in the second quarter. CWM LLC now owns 22,266 shares of the company’s stock valued at $164,000 after acquiring an additional 2,121 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Fastly by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after acquiring an additional 2,128 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Fastly by 15.2% during the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after purchasing an additional 2,296 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Company Profile

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.