Fastly (NYSE:FSLY) PT Lowered to $14.00 at Citigroup

Fastly (NYSE:FSLYGet Rating) had its price objective reduced by investment analysts at Citigroup from $22.00 to $14.00 in a research report issued on Friday, The Fly reports. Citigroup’s price target points to a potential upside of 1.38% from the company’s previous close.

FSLY has been the subject of a number of other research reports. Royal Bank of Canada reduced their price objective on shares of Fastly from $30.00 to $20.00 and set a “sector perform” rating for the company in a research report on Thursday, February 17th. Piper Sandler reduced their price objective on shares of Fastly from $35.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, February 17th. Zacks Investment Research raised Fastly from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, April 19th. KeyCorp began coverage on Fastly in a research note on Tuesday, January 18th. They set a “sector weight” rating on the stock. Finally, William Blair reissued a “market perform” rating on shares of Fastly in a research note on Thursday, January 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Fastly presently has a consensus rating of “Hold” and a consensus price target of $30.70.

Shares of NYSE:FSLY opened at $13.81 on Friday. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.66 billion, a P/E ratio of -6.84 and a beta of 1.48. Fastly has a 52 week low of $13.01 and a 52 week high of $64.07. The company has a 50-day moving average price of $17.05 and a 200 day moving average price of $29.98.

Fastly (NYSE:FSLYGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $102.40 million during the quarter, compared to analyst estimates of $98.94 million. Fastly had a negative net margin of 62.85% and a negative return on equity of 19.14%. Fastly’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.39) EPS. Analysts expect that Fastly will post -1.77 EPS for the current year.

In related news, CFO Ronald W. Kisling sold 5,083 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $19.06, for a total value of $96,881.98. Following the sale, the chief financial officer now owns 305,968 shares of the company’s stock, valued at approximately $5,831,750.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brett Shirk sold 2,888 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $13.96, for a total value of $40,316.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,428 shares of company stock worth $996,487. 10.32% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Fastly by 5.8% in the 3rd quarter. BlackRock Inc. now owns 4,521,957 shares of the company’s stock valued at $182,867,000 after acquiring an additional 249,398 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Fastly by 6.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 21,356 shares of the company’s stock valued at $757,000 after acquiring an additional 1,236 shares during the last quarter. Liberty One Investment Management LLC acquired a new position in Fastly in the 4th quarter valued at $1,107,000. Slow Capital Inc. raised its holdings in Fastly by 3.4% in the 4th quarter. Slow Capital Inc. now owns 42,554 shares of the company’s stock valued at $1,509,000 after acquiring an additional 1,382 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Fastly by 815.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 541,118 shares of the company’s stock valued at $19,183,000 after acquiring an additional 482,006 shares during the last quarter. Institutional investors own 65.08% of the company’s stock.

About Fastly (Get Rating)

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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