Zacks: Brokerages Anticipate Fastly, Inc. (NYSE:FSLY) Will Announce Quarterly Sales of $84.23 Million

Analysts expect Fastly, Inc. (NYSE:FSLY) to post sales of $84.23 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Fastly’s earnings, with the lowest sales estimate coming in at $83.20 million and the highest estimate coming in at $84.90 million. Fastly posted sales of $70.64 million during the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The business is expected to report its next earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that Fastly will report full year sales of $344.70 million for the current year, with estimates ranging from $341.80 million to $345.80 million. For the next fiscal year, analysts forecast that the business will report sales of $405.73 million, with estimates ranging from $396.50 million to $414.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Fastly.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, August 4th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.19. The business had revenue of $85.03 million for the quarter, compared to analysts’ expectations of $85.98 million. Fastly had a negative return on equity of 16.57% and a negative net margin of 55.22%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share.

A number of equities analysts have issued reports on FSLY shares. Piper Sandler cut their price target on Fastly from $45.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, August 5th. Citigroup cut their price target on Fastly from $46.00 to $33.00 and set a “sell” rating on the stock in a report on Thursday, August 5th. Zacks Investment Research upgraded Fastly from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 10th. Royal Bank of Canada began coverage on Fastly in a research report on Thursday, June 10th. They set a “sector perform” rating and a $50.00 target price on the stock. Finally, Craig Hallum lowered their target price on Fastly from $55.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, August 5th. Four equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, Fastly presently has an average rating of “Hold” and an average target price of $61.69.

Shares of Fastly stock traded up $0.64 on Friday, reaching $42.68. 68,859 shares of the company’s stock were exchanged, compared to its average volume of 4,636,047. The company has a market capitalization of $4.98 billion, a P/E ratio of -26.83 and a beta of 1.08. Fastly has a 52 week low of $33.87 and a 52 week high of $136.50. The firm’s 50-day moving average is $44.86 and its two-hundred day moving average is $53.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 9.78 and a current ratio of 9.78.

In other news, General Counsel Paul Luongo sold 8,627 shares of the firm’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $39.21, for a total transaction of $338,264.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Artur Bergman sold 14,423 shares of the firm’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $56.92, for a total value of $820,957.16. Following the sale, the insider now directly owns 313,944 shares of the company’s stock, valued at $17,869,692.48. The disclosure for this sale can be found here. Insiders sold a total of 127,902 shares of company stock valued at $6,037,685 over the last three months. 10.32% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Independent Advisor Alliance boosted its stake in Fastly by 3.3% in the 2nd quarter. Independent Advisor Alliance now owns 7,910 shares of the company’s stock worth $471,000 after purchasing an additional 256 shares during the period. Los Angeles Capital Management LLC boosted its stake in Fastly by 7.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 3,778 shares of the company’s stock worth $225,000 after purchasing an additional 264 shares during the period. Keybank National Association OH boosted its stake in Fastly by 7.9% in the 1st quarter. Keybank National Association OH now owns 4,100 shares of the company’s stock worth $276,000 after purchasing an additional 300 shares during the period. Comerica Bank boosted its stake in Fastly by 12.4% in the 1st quarter. Comerica Bank now owns 2,956 shares of the company’s stock worth $204,000 after purchasing an additional 326 shares during the period. Finally, Sandy Spring Bank boosted its position in shares of Fastly by 273.0% during the 2nd quarter. Sandy Spring Bank now owns 455 shares of the company’s stock valued at $27,000 after acquiring an additional 333 shares during the last quarter. Institutional investors own 63.68% of the company’s stock.

Fastly Company Profile

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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