On February 13, 2023, B of A Securities upgraded their outlook for Fastly from Underperform to Buy.
Analyst Price Forecast Suggests 7.99% Upside
As of February 13, 2023, the average one-year price target for Fastly is $10.66. The forecasts range from a low of $6.06 to a high of $26.25. The average price target represents an increase of 7.99% from its latest reported closing price of $9.87.
The projected annual revenue for Fastly is $501MM, an increase of 21.78%. The projected annual EPS is -$0.47.
What are large shareholders doing?
Legal & General Group holds 6,936K shares representing 5.74% ownership of the company. In it's prior filing, the firm reported owning 7,466K shares, representing a decrease of 7.64%. The firm decreased its portfolio allocation in FSLY by 37.30% over the last quarter.
SKYY - First Trust Cloud Computing ETF holds 6,463K shares representing 5.35% ownership of the company. In it's prior filing, the firm reported owning 4,738K shares, representing an increase of 26.70%. The firm increased its portfolio allocation in FSLY by 25.63% over the last quarter.
First Trust Advisors holds 6,344K shares representing 5.25% ownership of the company. In it's prior filing, the firm reported owning 9,916K shares, representing a decrease of 56.30%. The firm decreased its portfolio allocation in FSLY by 47.63% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,108K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 3,198K shares, representing a decrease of 2.89%. The firm decreased its portfolio allocation in FSLY by 20.07% over the last quarter.
FDN - First Trust Dow Jones Internet Index Fund holds 2,828K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 2,405K shares, representing an increase of 14.94%. The firm increased its portfolio allocation in FSLY by 0.66% over the last quarter.
What is the Fund Sentiment?
There are 420 funds or institutions reporting positions in Fastly. This is a decrease of 60 owner(s) or 12.50% in the last quarter. Average portfolio weight of all funds dedicated to FSLY is 0.22%, an increase of 4.14%. Total shares owned by institutions decreased in the last three months by 10.73% to 76,597K shares. The put/call ratio of FSLY is 0.36, indicating a bullish outlook.
Fastly Background Information
(This description is provided by the company.)
Fastly helps people stay better connected with the things they love. Fastly's edge cloud platform enables customers to create great digital experiences quickly, securely, and reliably by processing, serving, and securing its customers' applications as close to their end-users as possible - at the edge of the Internet. The platform is designed to take advantage of the modern internet, to be programmable, and to support agile software development. Fastly's customers include many of the world's most prominent companies, including Pinterest, The New York Times, and GitHub.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
