Fastly (FSLY) Scheduled to Post Earnings on Wednesday

Fastly (NYSE:FSLY) will be posting its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Fastly to post earnings of ($0.07) per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.05. The company had revenue of $137.78 million during the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. On average, analysts expect Fastly to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Fastly Stock Up 2.8 %

Shares of Fastly stock opened at $12.89 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. The company has a 50-day moving average of $13.69 and a 200 day moving average of $16.40. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -12.39 and a beta of 1.22. Fastly has a 1 year low of $11.61 and a 1 year high of $25.87.

Insider Activity

In other news, insider Artur Bergman sold 21,875 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total value of $551,031.25. Following the transaction, the insider now owns 6,050,259 shares in the company, valued at approximately $152,406,024.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Todd Nightingale sold 50,708 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.09, for a total value of $815,891.72. Following the transaction, the chief executive officer now owns 1,371,348 shares in the company, valued at approximately $22,064,989.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Artur Bergman sold 21,875 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.19, for a total transaction of $551,031.25. Following the completion of the transaction, the insider now owns 6,050,259 shares in the company, valued at approximately $152,406,024.21. The disclosure for this sale can be found here. Insiders have sold a total of 221,076 shares of company stock valued at $3,620,434 in the last 90 days. 7.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on FSLY. Craig Hallum downgraded shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research report on Thursday, February 15th. Bank of America cut their price objective on shares of Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Citigroup raised shares of Fastly from a “sell” rating to a “neutral” rating and increased their price objective for the company from $11.00 to $20.00 in a research report on Monday, January 22nd. Royal Bank of Canada raised shares of Fastly from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $12.00 to $18.00 in a research report on Monday, January 8th. Finally, Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $19.00 to $16.00 in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

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.