Fastly (NYSE:FSLY) Updates Q4 Earnings Guidance

Fastly (NYSE:FSLY) issued an update on its fourth quarter earnings guidance on Wednesday morning. 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.

Wall Street Analyst Weigh In

FSLY has been the topic of several recent research reports. Morgan Stanley dropped their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Piper Sandler lifted their target price on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada lifted their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, DA Davidson upped their price objective on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.94.

Fastly Stock Down 6.1 %

NYSE:FSLY traded down $0.50 during mid-day trading on Friday, reaching $7.67. The stock had a trading volume of 4,691,265 shares, compared to its average volume of 2,557,700. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87. The stock has a 50-day simple moving average of $7.09 and a two-hundred day simple moving average of $7.61.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The business had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same period in the prior year, the company earned ($0.32) EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Fastly will post -0.96 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the transaction, the chief technology officer now owns 6,205,000 shares in the company, valued at $36,981,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the sale, the chief financial officer now owns 558,564 shares in the company, valued at approximately $4,044,003.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the transaction, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at $36,981,800. This trade represents a 0.00 % decrease in their ownership of the stock. 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 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Fastly Company Profile

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.