Fastly (NYSE:FSLY) Updates Q4 2024 Earnings Guidance

Fastly (NYSE:FSLY) 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:FSLY) 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.

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

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.