Fastly (FSLY) Scheduled to Post Earnings on Wednesday

Fastly (NYSE:FSLY) is scheduled to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The business had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same quarter last year, the firm earned ($0.32) EPS. Fastly’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts expect Fastly to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Fastly Trading Down 0.4 %

NYSE:FSLY opened at $7.20 on Monday. The company has a market cap of $997.92 million, a P/E ratio of -5.81 and a beta of 1.24. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87. The business has a 50 day moving average price of $6.91 and a two-hundred day moving average price of $7.71. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Piper Sandler downgraded Fastly from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. Morgan Stanley dropped their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Finally, Craig Hallum decreased their price target on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.81.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the transaction, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the sale, the chief financial officer now owns 558,564 shares in the company, valued at approximately $4,044,003.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.25, for a total transaction of $76,018.75. Following the sale, the chief executive officer now directly owns 1,650,789 shares of the company’s stock, valued at $10,317,431.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,450 shares of company stock worth $891,093. Company insiders own 6.70% of the company’s stock.

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.