Fintel reports that on October 5, 2023, Raymond James reiterated coverage of Fastly Inc - (NYSE:FSLY) with a Strong Buy recommendation.
Analyst Price Forecast Suggests 23.37% Upside
As of October 5, 2023, the average one-year price target for Fastly Inc - is 19.44. The forecasts range from a low of 10.10 to a high of $27.82. The average price target represents an increase of 23.37% from its latest reported closing price of 15.76.
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The projected annual revenue for Fastly Inc - is 501MM, an increase of 6.93%. The projected annual non-GAAP EPS is -0.47.
What is the Fund Sentiment?
There are 477 funds or institutions reporting positions in Fastly Inc -. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to FSLY is 0.15%, a decrease of 11.04%. Total shares owned by institutions increased in the last three months by 5.75% to 91,355K shares. 
The put/call ratio of FSLY is 0.53, indicating a bullish outlook.
What are Other Shareholders Doing?
Legal & General Group holds 5,849K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 6,571K shares, representing a decrease of 12.34%. The firm decreased its portfolio allocation in FSLY by 6.19% over the last quarter.
First Trust Advisors holds 5,398K shares representing 4.18% ownership of the company. In it's prior filing, the firm reported owning 4,683K shares, representing an increase of 13.25%. The firm increased its portfolio allocation in FSLY by 0.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,441K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 3,428K shares, representing an increase of 0.38%. The firm decreased its portfolio allocation in FSLY by 17.76% over the last quarter.
Driehaus Capital Management holds 2,998K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 2,351K shares, representing an increase of 21.59%. The firm increased its portfolio allocation in FSLY by 1.88% over the last quarter.
Goldman Sachs Group holds 2,973K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 1,251K shares, representing an increase of 57.92%. The firm increased its portfolio allocation in FSLY by 585.83% over the last quarter.
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.
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This story originally appeared on Fintel.
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