Fastly (NYSE:FSLY) Announces Earnings Results

Fastly (NYSE:FSLY) announced its earnings results on Wednesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22), Zacks reports. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%.

Fastly Price Performance

NYSE:FSLY traded up $0.04 on Wednesday, hitting $10.10. The company had a trading volume of 8,760,058 shares, compared to its average volume of 2,614,858. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly has a 52 week low of $5.52 and a 52 week high of $23.94. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -9.27 and a beta of 1.26. The firm has a 50 day moving average of $10.02 and a two-hundred day moving average of $8.10.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $10.21, for a total transaction of $102,100.00. Following the transaction, the chief technology officer now directly owns 3,374,136 shares of the company’s stock, valued at approximately $34,449,928.56. The trade was a 0.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 16,102 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $100,637.50. Following the completion of the sale, the chief financial officer now owns 542,462 shares in the company, valued at $3,390,387.50. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,152 shares of company stock valued at $2,182,083 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FSLY shares. Royal Bank of Canada raised their price objective on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. DA Davidson boosted their price target on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Monday, December 2nd. Finally, Piper Sandler boosted their target price on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.85.

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.