Evercore assumed coverage on shares of Fastly (NYSE:FSLY – Get Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $24.00 price target on the stock. Evercore’s target price points to a potential upside of 2.65% from the company’s previous close.
Several other research analysts have also recently commented on FSLY. Citigroup upped their target price on shares of Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. DA Davidson set a $13.00 price target on shares of Fastly in a research note on Thursday, February 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $14.00 price target (up from $11.00) on shares of Fastly in a research note on Thursday, February 12th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research note on Tuesday. Finally, William Blair raised shares of Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.25.
Get Our Latest Stock Report on FSLY
Fastly Price Performance
Insider Transactions at Fastly
In related news, insider Scott R. Lovett sold 73,715 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $21.06, for a total transaction of $1,552,437.90. Following the completion of the sale, the insider directly owned 1,580,513 shares in the company, valued at approximately $33,285,603.78. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Lacey Compton III sold 73,206 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $20.94, for a total transaction of $1,532,933.64. Following the sale, the chief executive officer owned 875,831 shares of the company’s stock, valued at approximately $18,339,901.14. This represents a 7.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,478,702 shares of company stock valued at $28,751,555 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.
Institutional Trading of Fastly
Several institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Fastly during the 4th quarter worth $41,000. Align Financial LLC acquired a new position in shares of Fastly during the 4th quarter worth $41,000. Byrne Asset Management LLC acquired a new position in Fastly during the third quarter valued at approximately $43,000. Quarry LP acquired a new position in Fastly during the third quarter valued at approximately $49,000. Finally, Geneos Wealth Management Inc. acquired a new position in Fastly during the first quarter valued at approximately $52,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.
More Fastly News
Here are the key news stories impacting Fastly this week:
- Positive Sentiment: Evercore ISI initiated coverage with an “outperform” rating and a $24 price target, highlighting demand for edge computing and security tools — a direct catalyst supporting upside interest in the shares. Evercore Initiates Coverage
- Positive Sentiment: Fastly announced a technology/anti-piracy collaboration with LaLiga, showing commercial traction in content-protection use cases for its edge platform (positive for revenue diversification and customer references). Fastly & LaLiga Partnership
- Neutral Sentiment: Analyst consensus remains around “Hold,” reflecting mixed views across the sell-side even as some firms upgrade or initiate — indicates differing timelines for upside. Consensus Rating Article
- Neutral Sentiment: Evercore’s $24 target implies only modest upside from current levels, so while the initiation is supportive, the price target is not aggressive — limits immediate re-rating potential. Evercore Target Note
- Neutral Sentiment: Macro/sector commentary suggests AI demand is re-accelerating after a period of caution — a favorable backdrop for edge and security vendors but not a company-specific revenue read. Zacks AI Commentary
- Negative Sentiment: Craig-Hallum cut its rating to “Hold,” and that downgrade helped trigger earlier selling pressure; divergent analyst views have amplified intra-week volatility. Craig-Hallum Downgrade
- Negative Sentiment: Coverage of a sharp intraday decline (reports link the move to market reactions around Anthropic-related headlines) signaled a frenzied selloff that pressured the stock prior to today’s rebound — underscores how sentiment and AI-related headlines can drive rapid swings. Anthropic Selloff Coverage
Fastly Company Profile
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.
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