Fastly (NYSE:FSLY) Issues Q4 2024 Earnings Guidance

Fastly (NYSE:FSLY) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.020-0.020 for the period, compared to the consensus estimate of 0.030. The company issued revenue guidance of $136.0 million-$140.0 million, compared to the consensus revenue estimate of $137.3 million. Fastly also updated its FY 2024 guidance to -0.120–0.080 EPS.

Analyst Ratings Changes

FSLY has been the topic of several analyst reports. Morgan Stanley cut their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Piper Sandler raised their price objective on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada raised their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 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 given a hold rating to the company. According to data from MarketBeat.com, Fastly has an average rating of “Hold” and a consensus price target of $7.94.

Fastly Stock Performance

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

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) 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 for the quarter, compared to analyst estimates of $131.62 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Fastly will post -0.96 EPS for the current year.

Insider Buying and Selling at Fastly

In other news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the sale, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Artur Bergman sold 49,178 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $408,287.88. Following the completion of the sale, the chief executive officer now owns 1,662,952 shares in the company, valued at $10,277,043.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,628 shares of company stock valued at $1,287,959 in the last ninety days. 6.70% of the stock is currently owned by corporate 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.