Fastly (NYSE:FSLY) Issues Q4 2024 Earnings Guidance

Fastly (NYSE:FSLY) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of -0.020-0.020 for the period, compared to the consensus EPS 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 Price Performance

FSLY stock traded down $0.50 during midday trading on Friday, hitting $7.67. 4,691,265 shares of the stock were exchanged, compared to its average volume of 2,557,700. The stock’s 50-day moving average price is $7.09 and its 200-day moving average price is $7.61. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $132.37 million during the quarter, compared to the consensus estimate of $131.62 million. Fastly had a negative return on equity of 13.19% and a negative net margin of 27.47%. Fastly’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) earnings per share. As a group, research analysts forecast that Fastly will post -0.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FSLY. Craig Hallum boosted their price target on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday. Piper Sandler boosted their price target on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird upped their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley cut their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.94.

Insider Activity

In other Fastly news, CTO Artur Bergman sold 49,178 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46. Following the completion of the transaction, the chief technology officer now directly owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fastly news, CTO Artur Bergman sold 49,178 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46. Following the completion of the transaction, the chief technology officer now directly owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 15,933 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $98,465.94. Following the transaction, the chief financial officer now directly owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,628 shares of company stock valued at $1,287,959. 6.70% of the stock is currently owned by insiders.

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.