In yesterday’s Wall Street session, Fastly Inc. (NYSE:FSLY) shares traded at $19.12, up 0.26% from the previous session.
13 analysts cover Fastly Inc. (NYSE:FSLY), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $26.50 and a low of $12.00, we find $20.00. Given the previous closing price of $19.07, this indicates a potential upside of 4.88 percent. FSLY stock price is now 9.14% away from the 50-day moving average and 41.13% away from the 200-day moving average. The market capitalization of the company currently stands at $2.43B.
The stock has received a hold rating from 8 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $19.94 as their price target over the next twelve months.
With the price target enhanced from $12 to $18, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Fastly Inc. (NYSE: FSLY).
In other news, KISLING RONALD W, Chief Financial Officer sold 27,735 shares of the company’s stock on Aug 03. The stock was sold for $554,977 at an average price of $20.01. Upon completion of the transaction, the Chief Financial Officer now directly owns 485,760 shares in the company, valued at $9.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 31, Chief Architect Bergman Artur sold 11,163 shares of the business’s stock. A total of $203,390 was realized by selling the stock at an average price of $18.22. This leaves the insider owning 6,341,061 shares of the company worth $121.24 million. Insiders disposed of 1,391,272 shares of company stock worth roughly $26.6 million over the past 1 year. A total of 7.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FSLY stock. A new stake in Fastly Inc. shares was purchased by GAM HOLDING AG during the first quarter worth $13,002,000. RENAISSANCE TECHNOLOGIES LLC invested $12,126,000 in shares of FSLY during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Fastly Inc. valued at approximately $8,366,000. POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in FSLY for approximately $5,531,000. FOX RUN MANAGEMENT, L.L.C. purchased a new stake in FSLY valued at around $1,142,000 in the second quarter. In total, there are 359 active investors with 63.00% ownership of the company’s stock.
On Thursday morning Fastly Inc. (NYSE: FSLY) stock kicked off with the opening price of $19.25. During the past 12 months, Fastly Inc. has had a low of $7.15 and a high of $21.54. As of last week, the company has a debt-to-equity ratio of 0.51, a current ratio of 3.80, and a quick ratio of 3.80. The fifty day moving average price for FSLY is $17.57 and a two-hundred day moving average price translates $13.60 for the stock.
The latest earnings results from Fastly Inc. (NYSE: FSLY) was released for Jun, 2023. According to the Software – Application Company, earnings per share came in at -$0.04, beating analysts’ expectations of -$0.1 by 0.06. This compares to -$0.14 EPS in the same period last year. The net profit margin was -35.30% and return on equity was -17.10% for FSLY. The company reported revenue of $122.83 million for the quarter, compared to $102.52 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.81 percent. For the current quarter, analysts expect FSLY to generate $126.82M in revenue.
Fastly Inc.(FSLY) 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. It is a programmable platform designed for web and application delivery. The company offers Compute@Edge; network services to speed up and optimize the delivery of web and application traffic; device detection and geolocation; content delivery network, such as dynamic site acceleration, origin shield, instant purge, surrogate keys, programmatic control, content compression, reliability, and modern protocols and performance services; and streaming solutions and services, including live streaming and media shield. It also provides edge security solutions, such as DDoS protection, next-gen WAF, bot protection, API and ATO protection, advanced rate limiting, and compliance services; transport layer security (TLS) and platform TLS; and origin connect. In addition, the company offers edge applications, such as load balancers and image optimizers; video on demand; and edge delivery services. It serves customers operating in digital publishing, media and entertainment, technology, online retail and education, SaaS, travel and hospitality, and financial services industries. The company was formerly known as SkyCache, Inc. and changed its name to Fastly, Inc. in May 2012. Fastly, Inc. was incorporated in 2011 and is headquartered in San Francisco, California.
