$92.43 Million in Sales Expected for Fastly, Inc. (NYSE:FSLY) This Quarter

Analysts expect that Fastly, Inc. (NYSE:FSLY) will post $92.43 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Fastly’s earnings. The lowest sales estimate is $91.70 million and the highest is $94.00 million. Fastly posted sales of $82.65 million in the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 16th.

On average, analysts expect that Fastly will report full year sales of $349.06 million for the current financial year, with estimates ranging from $348.40 million to $350.60 million. For the next fiscal year, analysts anticipate that the business will post sales of $410.90 million, with estimates ranging from $397.50 million to $416.18 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Fastly.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, November 3rd. The company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.34. Fastly had a negative return on equity of 17.85% and a negative net margin of 62.16%. The firm had revenue of $86.74 million during the quarter, compared to analysts’ expectations of $84.23 million. During the same quarter last year, the firm posted ($0.15) earnings per share.

A number of analysts recently commented on FSLY shares. Zacks Investment Research lowered Fastly from a “buy” rating to a “hold” rating in a report on Wednesday, November 10th. Citigroup dropped their price target on Fastly from $46.00 to $33.00 and set a “sell” rating on the stock in a report on Thursday, August 5th. Craig Hallum dropped their price target on Fastly from $55.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, August 5th. Royal Bank of Canada lifted their price target on Fastly from $36.00 to $50.00 and gave the stock a “sector perform” rating in a report on Thursday, November 4th. Finally, William Blair downgraded Fastly from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 5th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.78.

In other news, EVP Brett Shirk sold 3,060 shares of the business’s stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $43.39, for a total value of $132,773.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Artur Bergman sold 11,163 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $51.68, for a total value of $576,903.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,407 shares of company stock valued at $3,470,813. Corporate insiders own 10.32% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Fastly by 50.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 889,186 shares of the company’s stock worth $35,959,000 after acquiring an additional 297,640 shares during the period. Ambassador Advisors LLC grew its holdings in shares of Fastly by 38.3% during the 3rd quarter. Ambassador Advisors LLC now owns 11,365 shares of the company’s stock worth $460,000 after acquiring an additional 3,148 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Fastly during the 3rd quarter worth approximately $1,730,000. Brookfield Asset Management Inc. purchased a new position in shares of Fastly during the 3rd quarter worth approximately $2,629,000. Finally, Two Sigma Advisers LP grew its holdings in shares of Fastly by 34.0% during the 3rd quarter. Two Sigma Advisers LP now owns 496,300 shares of the company’s stock worth $20,070,000 after acquiring an additional 125,800 shares during the period. Hedge funds and other institutional investors own 63.58% of the company’s stock.

Shares of FSLY stock traded up $0.55 during trading hours on Friday, reaching $40.08. The company had a trading volume of 2,251,456 shares, compared to its average volume of 4,353,932. Fastly has a 12 month low of $33.87 and a 12 month high of $122.75. The company has a debt-to-equity ratio of 0.94, a current ratio of 6.71 and a quick ratio of 6.71. The business has a fifty day simple moving average of $45.38 and a 200-day simple moving average of $47.48. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -21.90 and a beta of 1.23.

About Fastly

Fastly, Inc provides real-time content delivery network services. It offers edge cloud platform, edge software development kit (SDK), content delivery and image optimization, video and streaming, cloud security, load balancing, and managed CDN. The company was founded by Artur Bergman, Tyler McMullen, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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