Zacks: Analysts Expect Fastly, Inc. (NYSE:FSLY) Will Post Quarterly Sales of $85.15 Million

Equities analysts expect that Fastly, Inc. (NYSE:FSLY) will announce sales of $85.15 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Fastly’s earnings, with the highest sales estimate coming in at $87.50 million and the lowest estimate coming in at $84.20 million. Fastly posted sales of $62.92 million in the same quarter last year, which would indicate a positive year over year growth rate of 35.3%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 5th.

On average, analysts expect that Fastly will report full year sales of $382.18 million for the current financial year, with estimates ranging from $376.40 million to $392.80 million. For the next fiscal year, analysts expect that the firm will report sales of $484.60 million, with estimates ranging from $473.80 million to $510.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Fastly.

Fastly (NYSE:FSLY) last released its earnings results on Tuesday, February 16th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.08. The business had revenue of $82.65 million for the quarter, compared to the consensus estimate of $82.48 million. Fastly had a negative return on equity of 14.37% and a negative net margin of 24.07%.

FSLY has been the topic of a number of analyst reports. Zacks Investment Research reiterated an “average” rating on shares of Fastly in a research report on Tuesday, February 23rd. Raymond James lifted their target price on Fastly from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research note on Thursday, January 21st. Finally, Piper Sandler raised Fastly from an “underweight” rating to a “neutral” rating and set a $65.00 target price for the company in a research note on Monday, March 15th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Fastly currently has an average rating of “Hold” and a consensus price target of $74.93.

In other Fastly news, insider Artur Bergman sold 14,423 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $68.94, for a total value of $994,321.62. Following the transaction, the insider now owns 349,742 shares of the company’s stock, valued at $24,111,213.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Paul Luongo sold 2,083 shares of the firm’s stock in a transaction dated Monday, January 25th. The stock was sold at an average price of $106.43, for a total transaction of $221,693.69. Following the completion of the transaction, the general counsel now directly owns 255,174 shares in the company, valued at approximately $27,158,168.82. The disclosure for this sale can be found here. Insiders sold 265,980 shares of company stock valued at $21,886,541 over the last quarter. Insiders own 24.33% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLY. Toth Financial Advisory Corp raised its holdings in shares of Fastly by 50.0% during the fourth quarter. Toth Financial Advisory Corp now owns 300 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Fastly during the fourth quarter valued at approximately $32,000. Sonora Investment Management LLC bought a new stake in shares of Fastly during the fourth quarter valued at approximately $35,000. Eudaimonia Partners LLC bought a new stake in shares of Fastly during the third quarter valued at approximately $40,000. Finally, Evolution Wealth Advisors LLC bought a new stake in shares of Fastly during the fourth quarter valued at approximately $44,000. 54.67% of the stock is currently owned by institutional investors.

Shares of NYSE FSLY traded down $0.89 during midday trading on Wednesday, hitting $67.86. The stock had a trading volume of 2,567,974 shares, compared to its average volume of 4,790,943. Fastly has a 1 year low of $20.52 and a 1 year high of $136.50. The company has a market capitalization of $7.08 billion, a PE ratio of -106.03 and a beta of 1.34. The company has a quick ratio of 7.97, a current ratio of 7.97 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $71.11 and a 200-day simple moving average of $86.75.

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.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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