-$0.14 Earnings Per Share Expected for Fastly, Inc. (NYSE:FSLY) This Quarter

Brokerages expect that Fastly, Inc. (NYSE:FSLYGet Rating) will post earnings of ($0.14) per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Fastly’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.13). Fastly posted earnings of ($0.12) per share during the same quarter last year, which would indicate a negative year over year growth rate of 16.7%. The firm is expected to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Fastly will report full year earnings of ($0.55) per share for the current fiscal year, with EPS estimates ranging from ($0.58) to ($0.52). For the next year, analysts anticipate that the firm will post earnings of ($0.48) per share, with EPS estimates ranging from ($0.66) to ($0.30). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Fastly.

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

A number of research firms recently weighed in on FSLY. Raymond James upgraded Fastly from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $42.00 to $35.00 in a report on Friday, February 18th. William Blair restated a “market perform” rating on shares of Fastly in a report on Thursday, January 20th. Morgan Stanley lowered their price target on Fastly from $43.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 17th. Royal Bank of Canada lowered their price target on Fastly from $30.00 to $20.00 and set a “sector perform” rating on the stock in a report on Thursday, February 17th. Finally, Piper Sandler lowered their price target on Fastly from $35.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, February 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and a consensus target price of $35.30.

In related news, CFO Ronald W. Kisling sold 4,825 shares of the stock in a transaction on Friday, February 18th. The stock was sold at an average price of $20.01, for a total value of $96,548.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brett Shirk sold 2,888 shares of the stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $13.96, for a total value 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 ninety days. Corporate insiders own 10.32% of the company’s stock.

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

NYSE FSLY traded down $0.18 on Friday, hitting $18.88. 13,436,157 shares of the company’s stock were exchanged, compared to its average volume of 5,099,822. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.74 and a quick ratio of 4.74. The firm’s 50-day moving average price is $18.89 and its two-hundred day moving average price is $32.30. Fastly has a fifty-two week low of $13.01 and a fifty-two week high of $72.53. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -9.83 and a beta of 1.52.

About Fastly (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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Earnings History and Estimates for Fastly (NYSE:FSLY)

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