EARN25

Oppenheimer Upgrade Sends Fastly Stock Higher

The equity already sports an impressive 299.1% year-over-year lead

Digital Content Manager
Jan 21, 2021 at 10:19 AM
facebook X logo linkedin


The shares of Fastly Inc (NYSE:FSLY) are surging this morning, last seen up 5.7% at $103.11, after the security received an upgrade from Oppenheimer to "outperform" from "perform," with a $125 price target. The analyst in question is optimistic after speaking to channel checks, which have noted record traffic volumes and a positive launch of Fastly's Compute@Edge. The firm also believes the security should be trading on par with Cloudflare (NET) levels. Furthermore, Fastly announced today it will join corporate philanthropy movement Pledge 1% with its own Worldwide Virtual Volunteering Initiative.  

Though the security has experienced a significant amount of growth over the past year,  the last several months have been rocky. While shares surged all the way to an Oct. 13, all-time high of $136.50, the security has been struggling with overhead pressure at the $105 mark since its mid-October bear gap. Year-over-year, however, FSLY remains up an impressive 299.1%. 

Analysts were mostly hesitant towards Fastly stock coming into today, leaving plenty of room for more upgrades and/or price-target hikes going forward. Of the 11 in coverage, seven carried a lukewarm "hold" or worse rating, while four called it a "buy" or better. Plus, the 12-month consensus target price of $76.50 is a 21.6% discount to last night's close.

On the other hand, the options pits have been leaning bullish. This is per the equity's 50-day call/put volume ratio of 4.16 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 88% of readings from the past year. This means long calls have been picked up at a quicker-than-usual clip.  

What's more, Fastly stock's Schaeffer's Volatility Scorecard  (SVS) sits at 90 out of 100, meaning the equity has tended to exceed option trader's volatility expectations over the past year -- a boon for option buyers.

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!