What is DA Davidson’s Estimate for Fastly FY2024 Earnings?

Fastly, Inc. (NYSE:FSLY) – Analysts at DA Davidson increased their FY2024 EPS estimates for shares of Fastly in a report issued on Thursday, November 7th. DA Davidson analyst R. Kessinger now anticipates that the company will post earnings of ($0.91) per share for the year, up from their previous estimate of ($0.96). DA Davidson has a “Neutral” rating and a $7.50 price objective on the stock. The consensus estimate for Fastly’s current full-year earnings is ($0.96) per share. DA Davidson also issued estimates for Fastly’s FY2025 earnings at ($0.77) EPS.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.19% and a negative net margin of 27.47%. The business had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Fastly’s quarterly revenue was up 7.3% on a year-over-year basis.

Several other research firms have also issued reports on FSLY. Craig Hallum upped their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley dropped their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Royal Bank of Canada lifted their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday. Piper Sandler upped their price objective on Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Robert W. Baird raised their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.94.

Fastly Trading Down 6.1 %

Shares of Fastly stock opened at $7.67 on Monday. The stock has a market cap of $1.06 billion, a P/E ratio of -7.04 and a beta of 1.24. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35. Fastly has a 12-month low of $5.52 and a 12-month high of $25.87. The business’s 50 day moving average is $7.09 and its 200-day moving average is $7.57.

Institutional Trading of Fastly

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after purchasing an additional 466,560 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Fastly by 461.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after purchasing an additional 621,680 shares during the last quarter. Swiss National Bank raised its holdings in shares of Fastly by 1.4% during the 1st quarter. Swiss National Bank now owns 232,400 shares of the company’s stock worth $3,014,000 after buying an additional 3,200 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Fastly by 77.5% during the 3rd quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock worth $1,676,000 after buying an additional 96,664 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fastly news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at $10,277,043.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Ronald W. Kisling sold 15,933 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $98,465.94. Following the completion of the sale, the chief financial officer now directly owns 570,124 shares in the company, valued at approximately $3,523,366.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Nightingale sold 66,066 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,628 shares of company stock valued at $1,287,959. 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.