Credit Suisse Remains a Buy on Fastly (FSLY)


Credit Suisse analyst Brad Zelnick maintained a Buy rating on Fastly (FSLY) on February 20 and set a price target of $27.00. The company’s shares closed last Monday at $23.11.

According to TipRanks.com, Zelnick is a top 100 analyst with an average return of 19.5% and a 78.2% success rate. Zelnick covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Zoom Video Communications, and Slack Technologies.

Currently, the analyst consensus on Fastly is a Moderate Buy with an average price target of $27.00, representing a 19.6% upside. In a report issued on February 21, Oppenheimer also maintained a Buy rating on the stock with a $27.00 price target.

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Based on Fastly’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $14.07 million. In comparison, last year the company had a GAAP net loss of $9.31 million.

Based on the recent corporate insider activity of 69 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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