Fastly (NYSE:FSLY) Releases Q4 Earnings Guidance

Fastly (NYSE:FSLY) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of ($0.02) to $0.02 for the period, compared to the consensus 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 Trading Down 6.1 %

NYSE FSLY traded down $0.50 during trading hours on Friday, reaching $7.67. 4,691,265 shares of the stock traded hands, compared to its average volume of 2,557,700. The stock has a 50 day simple moving average of $7.09 and a two-hundred day simple moving average of $7.61. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. Fastly has a 1 year low of $5.52 and a 1 year high of $25.87.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The business had revenue of $132.37 million during the quarter, compared to analysts’ expectations 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 business posted ($0.32) EPS. Equities research analysts anticipate that Fastly will post -0.96 EPS for the current year.

Analyst Ratings Changes

FSLY has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday. Piper Sandler boosted their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley reduced their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Craig Hallum raised their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.94.

Insider Buying and Selling

In other Fastly news, CTO Artur Bergman sold 49,178 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total value of $396,866.46. Following the transaction, the chief technology officer now owns 6,155,822 shares of the company’s stock, valued at $49,677,483.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the sale, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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 shares were 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 of the company’s stock, valued at approximately $49,677,483.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,628 shares of company stock valued at $1,287,959. Company 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.