FSLY Bullish Price Target Revisions – Indicates Bullish Outlook
Analysts have revised the average one-year price target for Fastly (NYSE:FSLY) to $22.21 per share, reflecting a 7.69% increase from the prior estimate of $20.63 as of January 16, 2024. This positive adjustment signals a growing bullish sentiment among analysts regarding Fastly’s future prospects.
Analysts’ Targets and Market Sentiment
The latest price targets provided by analysts range from a low of $18.18 to a high of $29.40 per share. The average price target of $22.21 represents a notable increase of 56.32% from the latest reported closing price of $14.21 per share. This optimistic outlook suggests confidence in Fastly’s ability to deliver strong performance and capture market opportunities.
Institutional Interest on the Rise
Institutional investors continue to show interest in Fastly, with 511 funds or institutions reporting positions in the company. This represents an increase of 14 owners or 2.82% in the last quarter, indicating growing institutional confidence in Fastly’s long-term potential. The average portfolio weight of all funds dedicated to FSLY is 0.17%, with total shares owned by institutions rising by 2.49% to 103,333K shares over the last three months.
Notable Institutional Holdings
Several prominent institutions have significant holdings in Fastly:
– Legal & General Group: Holds 5,725K shares, representing 4.38% ownership of the company. The firm reduced its portfolio allocation in FSLY by 70.43% over the last quarter.
– First Trust Advisors: Holds 5,587K shares, representing 4.27% ownership of the company. The firm increased its portfolio allocation in FSLY by 3.96% over the last quarter.
– Alliancebernstein: Holds 4,806K shares, representing 3.67% ownership of the company. The firm decreased its portfolio allocation in FSLY by 14.91% over the last quarter.
-VTSMX – Vanguard Total Stock Market Index Fund Investor Shares**: Holds 3,568K shares, representing 2.73% ownership of the company. The firm increased its portfolio allocation in FSLY by 30.82% over the last quarter.
– NAESX – Vanguard Small-Cap Index Fund Investor Shares**: Holds 2,995K shares, representing 2.29% ownership of the company. The firm increased its portfolio allocation in FSLY by 29.36% over the last quarter.
Fastly’s Edge Cloud Platform
Fastly helps people stay better connected with the things they love by enabling customers to create great digital experiences quickly, securely, and reliably through its edge cloud platform. The platform processes, serves, and secures customers’ applications as close to their end-users as possible, leveraging the modern internet and supporting agile software development. Fastly’s customer base includes leading companies such as Pinterest, The New York Times, and GitHub.
Bullish Price Target Revisions – Conclusion
Fastly’s upbeat price target revisions and growing institutional interest underscore confidence in the company’s growth potential and market positioning. As Fastly continues to innovate and expand its offerings in the digital experience space, investors may view the stock as an attractive opportunity for long-term growth.
