Fastly (NYSE:FSLY) Releases Q4 Earnings Guidance

Fastly (NYSE:FSLY) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of ($0.02) to $0.02 for the period, compared to the consensus earnings per share estimate of $0.03. The company issued revenue guidance of $136.0 million to $140.0 million, compared to the consensus revenue estimate of $137.34 million. Fastly also updated its FY 2024 guidance to -0.120–0.080 EPS.

Fastly Price Performance

Shares of Fastly stock traded down $0.50 on Friday, hitting $7.67. The company’s stock had a trading volume of 4,691,265 shares, compared to its average volume of 2,557,700. The firm has a fifty day moving average price of $7.09 and a 200-day moving average price of $7.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. Fastly has a 1 year low of $5.52 and a 1 year high of $25.87.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative return on equity of 13.19% and a negative net margin of 27.47%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. Equities analysts forecast that Fastly will post -0.96 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on FSLY. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised their price target on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday. Craig Hallum boosted their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, DA Davidson increased their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.94.

Insiders Place Their Bets

In related news, CTO Artur Bergman sold 49,178 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the sale, the chief technology officer now directly owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fastly news, CFO Ronald W. Kisling sold 15,933 shares of Fastly stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $98,465.94. Following the completion of the transaction, the chief financial officer now directly owns 570,124 shares of the company’s stock, valued at $3,523,366.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Artur Bergman sold 49,178 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46. Following the sale, the chief technology officer now directly owns 6,155,822 shares in the company, valued at $49,677,483.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,628 shares of company stock valued at $1,287,959 over the last quarter. 6.70% of the stock is owned by insiders.

About Fastly

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.