Fastly (NYSE: FSLY) Upgrade at Piper Sandler
Quickly (NYSE: FSLY) was outclassed by Piper Sandler investment analysts from an “underweight” to a “neutral” rating in a report released on Monday, Briefing.com reports. The company currently has a price target of $ 65.00 on the share. Piper Sandler’s price target would point to a potential rise of 0.25% from the company’s previous close.
A number of other research companies have also recently commented on FSLY. Zacks investment research restated an “average” rating on Fastly’s shares in a Tuesday February 23 research note. Oppenheimer upgraded Fastly’s shares from a “market performance” rating to an “outperformance” rating and set a target price of $ 125.00 for the company in a research note on Thursday, January 21. Raymond James raised his price target on Fastly’s stock from $ 85.00 to $ 95.00 and gave the company an “outperforming” rating in a research note on Thursday, February 25. Finally, Credit Suisse Group downgraded Fastly’s shares from an “outperformance” rating to a “neutral” rating and set a price target of $ 90.00 for the company. in a research note on Wednesday, November 25. Four research analysts rated the stock with a sell rating, six assigned a sustaining rating, and four issued a buy rating for the company’s stock. The company has an average “Hold” rating and a consensus price target of $ 74.93.
Actions of Store quickly open for $ 64.84 on Mondays. The company has a fifty-day moving average of $ 95.22 and a two-hundred-day moving average of $ 89.51. The stock has a market cap of $ 6.64 billion, a price-to-earnings ratio of -101.31 and a beta of 1.34. Fastly has a 52 week low of $ 10.63 and a 52 week high of $ 136.50. The company has a debt ratio of 0.05, a rapid ratio of 7.97 and a current ratio of 7.97.
Fastly (NYSE: FSLY) last released its results on Tuesday, February 16. The company reported EPS of ($ 0.09) for the quarter, beating the consensus estimate of ($ 0.17) by $ 0.08. Fastly had a negative net margin of 24.07% and a negative return on equity of 14.37%. As a group, research analysts predict Fastly will post -0.59 EPS for the current fiscal year.
On a related note, CEO Joshua Bixby sold 25,364 Fastly shares in a trade that took place on Wednesday, February 17. The shares were sold for an average price of $ 94.40, for a total value of $ 2,394,361.60. Following the transaction, the CEO now directly owns 364,405 shares of the company, valued at $ 34,399,832. The sale was disclosed in a legal file with the Securities & Exchange Commission, which can be accessed via this hyperlink. In addition, General Counsel Paul Luongo sold 13,133 Fastly shares in a transaction that took place on Friday, February 19. The shares were sold for an average price of $ 80.79, for a total transaction of $ 1,061,015.07. Following the closing of the transaction, the General Counsel now directly owns 272,448 shares of the company, valued at $ 22,011,073.92. Disclosure of this sale can be found here. Insiders sold 203,372 shares of the company worth $ 17,705,844 in the past three months. 24.33% of the stock is currently held by insiders.
A number of institutional investors have recently changed their holdings in FSLY. Morgan Stanley increased its position in Fastly by 68.2% in the fourth quarter. Morgan Stanley now owns 12,792,269 shares of the company valued at $ 1,117,662,000 after purchasing an additional 5,186,166 shares during the last quarter. First Trust Advisors LP strengthened its position in Fastly by 92.1% in the fourth quarter. First Trust Advisors LP now owns 3,219,137 shares of the company valued at $ 281,256,000 after purchasing an additional 1,543,316 shares in the last quarter. BlackRock Inc. strengthened its position in Fastly by 44.7% in the third quarter. BlackRock Inc. now owns 3,418,863 shares of the company valued at $ 320,277,000 after purchasing an additional 1,055,660 shares during the last quarter. Norges Bank acquired a new position in shares of Fastly during the fourth quarter valued at $ 65,789,000. Finally, Charles Schwab Investment Management Inc. increased its holdings of Fastly shares by 3,572.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 493,239 shares of the company valued at $ 46,207,000 after purchasing an additional 479,809 shares during the period. Hedge funds and other institutional investors hold 54.67% of the company’s shares.
Fastly, Inc operates an edge cloud platform to process, serve and secure its customers’ applications. Edge cloud is a category of infrastructure as a service that enables developers to create, secure, and deliver digital experiences at the edge of the Internet. It is a programmable platform designed for web and application delivery.
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