Fastly (NYSE:FSLY) PT Lowered to $15.00

Fastly (NYSE:FSLY) had its price objective decreased by Citigroup from $20.00 to $15.00 in a report published on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the company. Royal Bank of Canada upgraded Fastly from an underperform rating to a sector perform rating and boosted their price target for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Craig Hallum cut shares of Fastly from a buy rating to a hold rating and set a $20.00 target price for the company. in a research report on Thursday, February 15th. Piper Sandler upgraded shares of Fastly from a neutral rating to an overweight rating and decreased their price target for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Finally, Bank of America dropped their price objective on shares of Fastly from $28.00 to $18.00 and set a buy rating for the company in a research note on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $18.56.

Fastly Price Performance

Shares of FSLY opened at $12.95 on Thursday. The company’s 50-day moving average is $13.34 and its 200-day moving average is $16.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. The firm has a market capitalization of $1.77 billion, a PE ratio of -12.45 and a beta of 1.22. Fastly has a fifty-two week low of $11.61 and a fifty-two week high of $25.87.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. The firm had revenue of $137.78 million for the quarter, compared to analysts’ expectations of $139.25 million. Equities analysts forecast that Fastly will post -1.07 EPS for the current year.

Insider Transactions at Fastly

In related news, CFO Ronald W. Kisling sold 7,486 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the transaction, the chief financial officer now owns 632,736 shares of the company’s stock, valued at $8,225,568. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Ronald W. Kisling sold 7,486 shares of Fastly stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the transaction, the chief financial officer now directly owns 632,736 shares of the company’s stock, valued at $8,225,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Artur Bergman sold 21,875 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total transaction of $551,031.25. Following the transaction, the insider now owns 6,050,259 shares of the company’s stock, valued at $152,406,024.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 199,201 shares of company stock valued at $3,160,402. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently modified their holdings of the business. Hanseatic Management Services Inc. bought a new position in Fastly in the third quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastly in the third quarter worth about $36,000. Allworth Financial LP lifted its holdings in shares of Fastly by 1,420.9% in the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Fastly in the third quarter worth about $58,000. Finally, Strs Ohio bought a new position in shares of Fastly in the third quarter worth about $65,000. 79.71% of the stock is currently owned by institutional investors.

About Fastly

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.