$92.43 Million in Sales Expected for Fastly, Inc. (NYSE:FSLY) This Quarter

Wall Street brokerages expect Fastly, Inc. (NYSE:FSLY) to announce $92.43 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Fastly’s earnings, with estimates ranging from $91.70 million to $94.00 million. Fastly posted sales of $82.65 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.8%. The business is scheduled to report its next earnings results on Wednesday, February 16th.

On average, analysts expect that Fastly will report full year sales of $349.06 million for the current fiscal year, with estimates ranging from $348.40 million to $350.60 million. For the next financial year, analysts anticipate that the company will post sales of $410.90 million, with estimates ranging from $397.50 million to $416.18 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Fastly.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.34. Fastly had a negative return on equity of 17.85% and a negative net margin of 62.16%. The business had revenue of $86.74 million during the quarter, compared to analysts’ expectations of $84.23 million. During the same period in the previous year, the business posted ($0.15) earnings per share.

FSLY has been the subject of a number of research analyst reports. Raymond James initiated coverage on Fastly in a report on Monday, August 9th. They issued a “market perform” rating for the company. Royal Bank of Canada lifted their price target on Fastly from $36.00 to $50.00 and gave the company a “sector perform” rating in a report on Thursday, November 4th. DA Davidson lowered Fastly from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $60.00 to $33.00 in a research report on Thursday, August 5th. Craig Hallum lowered their price objective on Fastly from $55.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, August 5th. Finally, Citigroup lowered their price objective on Fastly from $46.00 to $33.00 and set a “sell” rating for the company in a research report on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.78.

In other Fastly news, Director Christopher B. Paisley sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Artur Bergman sold 11,163 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $51.68, for a total value of $576,903.84. The disclosure for this sale can be found here. Insiders have sold a total of 71,407 shares of company stock worth $3,470,813 in the last quarter. 10.32% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Ameritas Investment Company LLC acquired a new position in shares of Fastly during the 1st quarter worth approximately $27,000. HHM Wealth Advisors LLC acquired a new position in Fastly in the 2nd quarter valued at $27,000. Sandy Spring Bank grew its holdings in Fastly by 273.0% in the 2nd quarter. Sandy Spring Bank now owns 455 shares of the company’s stock valued at $27,000 after buying an additional 333 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Fastly by 1,808.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 477 shares of the company’s stock valued at $28,000 after buying an additional 452 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in Fastly in the 2nd quarter valued at $36,000. Institutional investors own 63.58% of the company’s stock.

Shares of Fastly stock traded up $0.55 during trading on Friday, reaching $40.08. The company’s stock had a trading volume of 2,251,456 shares, compared to its average volume of 4,353,932. The stock has a 50-day moving average price of $45.38 and a two-hundred day moving average price of $47.48. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.94. Fastly has a one year low of $33.87 and a one year high of $122.75. The stock has a market capitalization of $4.71 billion, a P/E ratio of -21.90 and a beta of 1.23.

About Fastly

Fastly, Inc provides real-time content delivery network services. It offers edge cloud platform, edge software development kit (SDK), content delivery and image optimization, video and streaming, cloud security, load balancing, and managed CDN. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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