Fastly (NYSE:FSLY) Coverage Initiated by Analysts at Piper Jaffray Companies

Piper Jaffray Companies initiated coverage on shares of Fastly (NYSE:FSLY) in a research report report published on Wednesday morning, 24/7 WallStreet reports. The firm issued an overweight rating and a $21.00 target price on the stock.

Other research analysts also recently issued reports about the stock. Citigroup started coverage on shares of Fastly in a research report on Wednesday, June 12th. They issued a neutral rating and a $23.00 price target on the stock. Robert W. Baird started coverage on shares of Fastly in a research report on Tuesday, June 11th. They issued an outperform rating and a $28.00 price target on the stock. DA Davidson started coverage on shares of Fastly in a research note on Tuesday, June 11th. They issued a buy rating and a $26.50 price objective for the company. Craig Hallum started coverage on shares of Fastly in a research note on Friday, June 21st. They issued a buy rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Fastly and gave the stock a buy rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $25.03.

Shares of NYSE FSLY opened at $16.39 on Wednesday. The business has a 50 day moving average price of $20.44. Fastly has a 52-week low of $14.12 and a 52-week high of $25.67.

Fastly (NYSE:FSLY) last issued its quarterly earnings data 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 company had revenue of $46.17 million for the quarter, compared to the consensus estimate of $45.31 million. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, research analysts forecast that Fastly will post -0.58 EPS for the current year.

In related news, major shareholder Qualified Master Fund L. Abdiel bought 137,515 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was bought at an average cost of $20.32 per share, with a total value of $2,794,304.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Qualified Master Fund L. Abdiel bought 38,170 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $21.39 per share, with a total value of $816,456.30. The disclosure for this purchase can be found here. Insiders have purchased 587,498 shares of company stock valued at $11,546,419 over the last ninety days.

A number of institutional investors and hedge funds have recently bought and sold shares of FSLY. Monashee Investment Management LLC purchased a new position in Fastly during the second quarter valued at $231,000. Landscape Capital Management L.L.C. bought a new position in Fastly during the second quarter valued at $3,434,000. Roundview Capital LLC bought a new position in Fastly during the second quarter valued at $1,208,000. King Luther Capital Management Corp bought a new position in Fastly during the second quarter valued at $309,000. Finally, Northern Trust Corp bought a new position in Fastly during the second quarter valued at $1,194,000. 0.02% of the stock is owned by institutional investors.

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Analyst Recommendations for Fastly (NYSE:FSLY)

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