Fastly (NYSE:FSLY) Hits New 12-Month Low at $30.66

Shares of Fastly, Inc. (NYSE:FSLY) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $30.66 and last traded at $30.69, with a volume of 25128 shares changing hands. The stock had previously closed at $31.42.

FSLY has been the topic of several research analyst reports. Zacks Investment Research upgraded Fastly from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, January 5th. Morgan Stanley initiated coverage on Fastly in a research report on Monday, January 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Piper Sandler lowered their price target on Fastly from $51.00 to $35.00 in a research report on Thursday, January 6th. Raymond James upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Friday, December 3rd. Finally, Royal Bank of Canada lifted their price target on Fastly from $36.00 to $50.00 and gave the company a “sector perform” rating in a research report on Thursday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.89.

The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -16.79 and a beta of 1.24. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average of $40.22 and a 200-day moving average of $44.40.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, November 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.34. The firm had revenue of $86.74 million during the quarter, compared to analysts’ expectations of $84.23 million. Fastly had a negative return on equity of 17.85% and a negative net margin of 62.16%. During the same quarter last year, the firm earned ($0.15) earnings per share. Equities analysts anticipate that Fastly, Inc. will post -1.65 earnings per share for the current year.

In other Fastly news, EVP Brett Shirk sold 3,780 shares of the firm’s stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $39.91, for a total transaction of $150,859.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joshua Bixby sold 17,505 shares of the firm’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $48.67, for a total value of $851,968.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,127 shares of company stock valued at $3,488,899. Insiders own 10.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its holdings in Fastly by 815.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 541,118 shares of the company’s stock valued at $19,183,000 after buying an additional 482,006 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Fastly by 3.3% during the third quarter. UBS Asset Management Americas Inc. now owns 148,664 shares of the company’s stock valued at $6,012,000 after buying an additional 4,701 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Fastly in the third quarter worth about $342,000. Bank of New York Mellon Corp increased its stake in shares of Fastly by 50.3% in the third quarter. Bank of New York Mellon Corp now owns 889,186 shares of the company’s stock worth $35,959,000 after purchasing an additional 297,640 shares during the period. Finally, Ambassador Advisors LLC increased its stake in shares of Fastly by 38.3% in the third quarter. Ambassador Advisors LLC now owns 11,365 shares of the company’s stock worth $460,000 after purchasing an additional 3,148 shares during the period. Institutional investors own 60.93% of the company’s stock.

About Fastly (NYSE:FSLY)

Fastly, Inc provides real-time content delivery network services. It offers edge cloud platform, edge software development kit (SDK), content delivery and image optimization, video and streaming, cloud security, load balancing, and managed CDN. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.

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