Fastly Inc (NYSE:FSLY) has been assigned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $25.49.
A number of equities analysts have recently weighed in on FSLY shares. Zacks Investment Research upgraded Fastly from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Citigroup increased their target price on Fastly from $17.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus set a $25.00 target price on Fastly and gave the stock a “buy” rating in a research note on Friday, August 9th. ValuEngine lowered Fastly from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Piper Jaffray Companies lowered Fastly from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $21.00 to $24.00 in a research note on Friday, October 11th.
Shares of NYSE FSLY traded down $0.63 during trading hours on Monday, reaching $22.07. 943,000 shares of the stock were exchanged, compared to its average volume of 1,196,605. Fastly has a 52 week low of $14.12 and a 52 week high of $35.25. The company’s fifty day simple moving average is $26.10.
Fastly (NYSE:FSLY) last announced its earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). The firm had revenue of $46.17 million during the quarter, compared to the consensus estimate of $45.31 million. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) EPS. On average, research analysts predict that Fastly will post -0.58 earnings per share for the current fiscal year.
In related news, major shareholder Qualified Master Fund L. Abdiel acquired 120,863 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $19.53 per share, for a total transaction of $2,360,454.39. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 359,071 shares of the stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $21.84 per share, for a total transaction of $7,842,110.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,367,517 shares of company stock worth $25,798,808.
Several hedge funds have recently modified their holdings of the business. Endurance Wealth Management Inc. acquired a new stake in shares of Fastly in the 3rd quarter valued at $96,000. NEXT Financial Group Inc acquired a new stake in shares of Fastly in the 3rd quarter valued at $34,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Fastly in the 2nd quarter valued at $41,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Fastly in the 2nd quarter valued at $203,000. Finally, Waddell & Reed Financial Inc. acquired a new stake in shares of Fastly in the 2nd quarter valued at $22,879,000. 14.14% of the stock is currently owned by hedge funds and other institutional investors.
Featured Story: What are different types of coverage ratios?
Receive News & Ratings for Fastly Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fastly and related companies with MarketBeat.com's FREE daily email newsletter.