Zacks: Brokerages Anticipate Fastly, Inc. (NYSE:FSLY) Will Post Quarterly Sales of $99.38 Million

Analysts expect Fastly, Inc. (NYSE:FSLYGet Rating) to post $99.38 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Fastly’s earnings. The highest sales estimate is $104.10 million and the lowest is $98.20 million. Fastly reported sales of $84.85 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The company is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Fastly will report full-year sales of $409.92 million for the current year, with estimates ranging from $406.60 million to $421.40 million. For the next financial year, analysts anticipate that the business will post sales of $480.19 million, with estimates ranging from $467.50 million to $500.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fastly.

Fastly (NYSE:FSLYGet Rating) last announced its earnings results on Wednesday, February 16th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.02). Fastly had a negative return on equity of 19.14% and a negative net margin of 62.85%. The business had revenue of $97.72 million for the quarter, compared to analyst estimates of $92.48 million. During the same quarter last year, the company posted ($0.35) EPS. Fastly’s quarterly revenue was up 18.2% on a year-over-year basis.

Several research analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of Fastly from $43.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, February 17th. Piper Sandler reduced their target price on shares of Fastly from $35.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, February 17th. Raymond James raised shares of Fastly from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $42.00 to $35.00 in a research note on Friday, February 18th. Bank of America reduced their target price on shares of Fastly from $28.00 to $16.00 in a research note on Tuesday, March 22nd. Finally, William Blair reissued a “market perform” rating on shares of Fastly in a research note on Thursday, January 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.30.

Shares of FSLY stock opened at $18.12 on Monday. The company’s fifty day simple moving average is $19.74 and its 200-day simple moving average is $32.99. Fastly has a 52 week low of $13.01 and a 52 week high of $75.15. The company has a current ratio of 4.74, a quick ratio of 4.74 and a debt-to-equity ratio of 0.94. The company has a market cap of $2.18 billion, a PE ratio of -9.44 and a beta of 1.52.

In other news, CFO Ronald W. Kisling sold 4,825 shares of the stock in a transaction on Friday, February 18th. The shares were sold at an average price of $20.01, for a total value of $96,548.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brett Shirk sold 2,888 shares of the stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $13.96, for a total transaction of $40,316.48. The disclosure for this sale can be found here. Insiders sold a total of 39,673 shares of company stock worth $1,060,085 over the last quarter. Insiders own 10.32% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. boosted its position in Fastly by 4.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 7,175 shares of the company’s stock worth $290,000 after purchasing an additional 275 shares during the period. Geneos Wealth Management Inc. raised its stake in Fastly by 10.2% during the third quarter. Geneos Wealth Management Inc. now owns 4,325 shares of the company’s stock worth $175,000 after acquiring an additional 400 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Fastly by 14.4% during the third quarter. PNC Financial Services Group Inc. now owns 4,135 shares of the company’s stock worth $167,000 after acquiring an additional 519 shares in the last quarter. Penserra Capital Management LLC raised its stake in Fastly by 38.0% during the fourth quarter. Penserra Capital Management LLC now owns 2,048 shares of the company’s stock worth $72,000 after acquiring an additional 564 shares in the last quarter. Finally, Sonora Investment Management LLC raised its holdings in Fastly by 175.0% in the 3rd quarter. Sonora Investment Management LLC now owns 1,100 shares of the company’s stock valued at $44,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.

Fastly Company Profile (Get Rating)

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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