Fastly (NYSE:FSLY) Updates Q4 2024 Earnings Guidance

Fastly (NYSE:FSLYGet Free Report) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -0.020-0.020 for the period, compared to the consensus earnings per share estimate of 0.030. The company issued revenue guidance of $136.0 million-$140.0 million, compared to the consensus revenue estimate of $137.3 million. Fastly also updated its FY 2024 guidance to -0.120–0.080 EPS.

Fastly Stock Down 6.1 %

Shares of FSLY stock traded down $0.50 on Friday, hitting $7.67. 4,691,265 shares of the company’s stock traded hands, compared to its average volume of 2,557,700. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. Fastly has a one year low of $5.52 and a one year high of $25.87. The company’s fifty day simple moving average is $7.09 and its 200 day simple moving average is $7.61.

Fastly (NYSE:FSLYGet Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) EPS. On average, sell-side analysts forecast that Fastly will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada lifted their target price on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday. Craig Hallum lifted their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday. Robert W. Baird lifted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, DA Davidson lifted their price target on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Fastly has an average rating of “Hold” and a consensus price target of $7.94.

Check Out Our Latest Stock Analysis on FSLY

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 49,178 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the transaction, the chief technology officer now directly owns 6,155,822 shares in the company, valued at $49,677,483.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fastly news, CTO Artur Bergman sold 49,178 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the transaction, the chief technology officer now directly owns 6,155,822 shares in the company, valued at $49,677,483.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of the business’s 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 completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 192,628 shares of company stock worth $1,287,959 over the last three months. 6.70% of the stock is currently owned by company insiders.

About Fastly

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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.

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