Fastly (NYSE:FSLY) Updates Q4 2024 Earnings Guidance

Fastly (NYSE:FSLY) updated its fourth quarter 2024 earnings guidance on Wednesday. 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.

Analyst Ratings Changes

FSLY has been the subject of several research reports. Craig Hallum decreased their target price on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Morgan Stanley lowered their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, Piper Sandler downgraded Fastly from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.81.

Fastly Stock Performance

Shares of NYSE:FSLY traded up $0.49 during midday trading on Wednesday, hitting $8.16. The company’s stock had a trading volume of 6,387,806 shares, compared to its average volume of 3,543,742. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.49 and a beta of 1.24. The stock’s 50 day simple moving average is $6.97 and its 200 day simple moving average is $7.64. 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 has a fifty-two week low of $5.52 and a fifty-two week high of $25.87.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) earnings per share. As a group, research analysts anticipate that Fastly will post -0.96 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 15,933 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 570,124 shares in the company, valued at $3,523,366.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fastly news, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the completion of the sale, the chief executive officer now owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the chief financial officer now directly owns 570,124 shares in the company, valued at approximately $3,523,366.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock worth $891,093 in the last quarter. 6.70% of the stock is owned by corporate insiders.

About Fastly

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.