Fastly (NYSE:FSLY) Lowered to “Market Perform” at Raymond James

Raymond James lowered shares of Fastly (NYSE:FSLY) from a strong-buy rating to a market perform rating in a report released on Tuesday, MarketBeat Ratings reports.

Several other analysts have also commented on FSLY. Morgan Stanley decreased their price objective on Fastly from $12.00 to $7.00 and set an equal weight rating for the company in a report on Tuesday, August 27th. Piper Sandler cut Fastly from an overweight rating to a neutral rating and decreased their price target for the company from $10.00 to $6.00 in a research note on Thursday, August 8th. Finally, Craig Hallum dropped their price target on Fastly from $10.00 to $6.00 and set a hold rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $7.81.

Fastly Stock Performance

Shares of Fastly stock opened at $7.63 on Tuesday. The company has a market capitalization of $1.04 billion, a PE ratio of -7.63 and a beta of 1.20. The company has a 50-day simple moving average of $6.70 and a two-hundred day simple moving average of $8.58. Fastly has a one year low of $5.52 and a one year high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $131.62 million. During the same quarter in the previous year, the firm earned ($0.32) EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Fastly will post -0.96 EPS for the current fiscal year.

Insider Transactions at Fastly

In related news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Artur Bergman sold 16,748 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64. Following the sale, the chief technology officer now directly owns 6,225,980 shares of the company’s stock, valued at $38,476,556.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $903,011 over the last three months. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fastly

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLY. Cambridge Trust Co. acquired a new stake in shares of Fastly during the 1st quarter valued at about $39,000. Cape Investment Advisory Inc. grew its holdings in Fastly by 27,666.7% in the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Fastly in the second quarter valued at approximately $38,000. EntryPoint Capital LLC raised its stake in shares of Fastly by 41.1% during the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after buying an additional 1,643 shares during the period. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Fastly during the 1st quarter worth approximately $92,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.