$101.26 Million in Sales Expected for Fastly, Inc. (NYSE:FSLY) This Quarter

Wall Street analysts expect Fastly, Inc. (NYSE:FSLY – Get Rating) to report $101.26 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Fastly’s earnings, with the lowest sales estimate coming in at $99.60 million and the highest estimate coming in at $105.10 million. Fastly posted sales of $85.03 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.1%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Fastly will report full-year sales of $413.22 million for the current year, with estimates ranging from $406.50 million to $421.40 million. For the next fiscal year, analysts anticipate that the business will post sales of $481.70 million, with estimates ranging from $464.90 million to $500.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Fastly.

Fastly (NYSE:FSLY – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Fastly had a negative return on equity of 20.82% and a negative net margin of 63.54%. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $98.94 million. During the same period in the prior year, the company earned ($0.39) EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year.

Several brokerages have commented on FSLY. Royal Bank of Canada lowered their target price on Fastly from $30.00 to $20.00 and set a “sector perform” rating for the company in a research note on Thursday, February 17th. Bank of America lowered their target price on Fastly from $28.00 to $16.00 in a research note on Tuesday, March 22nd. Piper Sandler lowered their target price on Fastly from $35.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, February 17th. Morgan Stanley lowered their target price on Fastly from $25.00 to $18.00 in a research note on Thursday, May 5th. Finally, Citigroup lowered their price objective on Fastly from $22.00 to $14.00 and set a “sell” rating for the company in a research note on Friday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and a consensus price target of $24.67.

In related news, insider Artur Bergman sold 13,908 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $11.97, for a total value of $166,478.76. Following the transaction, the insider now directly owns 6,756,428 shares in the company, valued at approximately $80,874,443.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 5,083 shares of the stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $19.06, for a total value of $96,881.98. Following the completion of the transaction, the chief financial officer now owns 305,968 shares in the company, valued at $5,831,750.08. The disclosure for this sale can be found here. Insiders have sold a total of 43,248 shares of company stock worth $559,464 over the last 90 days. Company insiders own 10.32% of the company’s stock.

A number of large investors have recently modified their holdings of FSLY. Morgan Stanley lifted its stake in Fastly by 3.0% during the 2nd quarter. Morgan Stanley now owns 13,467,444 shares of the company’s stock valued at $802,659,000 after acquiring an additional 396,329 shares in the last quarter. BlackRock Inc. increased its position in shares of Fastly by 5.8% during the 3rd quarter. BlackRock Inc. now owns 4,521,957 shares of the company’s stock valued at $182,867,000 after purchasing an additional 249,398 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Fastly by 20.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,677 shares of the company’s stock valued at $634,000 after purchasing an additional 2,645 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Fastly by 2.3% during the 3rd quarter. Alliancebernstein L.P. now owns 45,993 shares of the company’s stock valued at $1,860,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Fastly by 146.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,595 shares of the company’s stock valued at $792,000 after purchasing an additional 11,642 shares during the last quarter. Institutional investors and hedge funds own 65.08% of the company’s stock.

FSLY traded up $0.72 on Monday, hitting $13.18. 4,035,654 shares of the stock were exchanged, compared to its average volume of 5,176,784. Fastly has a 12 month low of $9.50 and a 12 month high of $64.07. The business has a 50-day moving average of $15.72 and a two-hundred day moving average of $25.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.26 and a quick ratio of 4.74. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -6.52 and a beta of 1.48.

About Fastly (Get Rating)

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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