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Fastly (FSLY) Receives a Hold from Robert W. Baird

In a report released today, William Power from Robert W. Baird reiterated a Hold rating on Fastly (FSLYResearch Report), with a price target of $55.00. The company’s shares closed last Thursday at $55.05.

According to TipRanks.com, Power is a 5-star analyst with an average return of 30.0% and a 67.8% success rate. Power covers the Technology sector, focusing on stocks such as Zoom Video Communications, Axon Enterprise, and Vonage Holdings.

Fastly has an analyst consensus of Hold, with a price target consensus of $42.40, which is a -25.2% downside from current levels. In a report released today, RBC Capital also maintained a Hold rating on the stock with a $50.00 price target.

See the top stocks recommended by analysts >>

Based on Fastly’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $85.03 million and GAAP net loss of $58.3 million. In comparison, last year the company earned revenue of $74.66 million and had a GAAP net loss of $14.46 million.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FSLY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.

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