Fastly (NYSE:FSLY) Releases Q4 Earnings Guidance

Fastly (NYSE:FSLY) issued an update on 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FSLY shares. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada increased 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. Craig Hallum upped their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday. DA Davidson raised their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Piper Sandler raised their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.94.

Fastly Price Performance

NYSE:FSLY traded down $0.50 during midday 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. The firm’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $7.61. Fastly has a 1-year low of $5.52 and a 1-year high of $25.87.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $132.37 million for the quarter, compared to the consensus estimate of $131.62 million. During the same quarter in the previous year, the firm posted ($0.32) EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Fastly will post -0.96 earnings per share for the current year.

Insider Activity

In related news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,662,952 shares of the company’s stock, valued at $10,277,043.36. 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. In other news, CEO Todd Nightingale sold 66,066 shares of Fastly 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 transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ronald W. Kisling sold 15,933 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 value of $98,465.94. Following the sale, the chief financial officer now owns 570,124 shares in the company, valued at $3,523,366.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 192,628 shares of company stock worth $1,287,959. Company insiders own 6.70% of the company’s stock.

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.