Fastly (NYSE:FSLY) Posts Earnings Results, Misses Expectations By $0.22 EPS

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

Fastly Price Performance

FSLY stock traded up $0.04 during trading 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 fifty day moving average price of $10.02 and a two-hundred day moving average price of $8.10. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $23.94. The company has a market cap of $1.42 billion, a P/E ratio of -9.27 and a beta of 1.26. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup raised their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler lifted their price target on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Robert W. Baird raised their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum increased their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fastly has an average rating of “Hold” and a consensus price target of $8.85.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 16,922 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $105,762.50. Following the completion of the transaction, the chief technology officer now directly owns 6,138,900 shares of the company’s stock, valued at approximately $38,368,125. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 16,102 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $100,637.50. Following the sale, the chief financial officer now directly owns 542,462 shares of the company’s stock, valued at $3,390,387.50. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,152 shares of company stock valued at $2,182,083 in the last ninety days. 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.