Fastly (NYSE:FSLY) Releases Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Fastly (NYSE:FSLY) released its quarterly earnings data on Wednesday. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22), Zacks reports. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%.

Fastly Stock Performance

NYSE FSLY traded up $0.04 on Wednesday, reaching $10.10. 8,617,666 shares of the stock were exchanged, compared to its average volume of 2,580,693. The firm has a market capitalization of $1.42 billion, a PE ratio of -9.27 and a beta of 1.26. Fastly has a one year low of $5.52 and a one year high of $23.94. The company’s 50-day simple moving average is $10.02 and its two-hundred day simple moving average is $8.10. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 3,400 shares of Fastly stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the sale, the chief technology officer now owns 3,444,136 shares in the company, valued at $41,364,073.36. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Nightingale sold 49,816 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the transaction, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,152 shares of company stock valued at $2,182,083 over the last three months. Corporate insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday, December 2nd. Craig Hallum raised their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler increased their price objective on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.85.

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.