DA Davidson Forecasts Fastly’s Q4 Earnings (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) – Research analysts at DA Davidson issued their Q4 2024 EPS estimates for Fastly in a research report issued on Thursday, November 7th. DA Davidson analyst R. Kessinger forecasts that the company will post earnings per share of ($0.19) for the quarter. DA Davidson currently has a “Neutral” rating and a $7.50 target price on the stock. The consensus estimate for Fastly’s current full-year earnings is ($0.96) per share.

A number of other brokerages also recently weighed in on FSLY. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler boosted their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley lowered their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Royal Bank of Canada boosted their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Craig Hallum boosted their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, Fastly currently has an average rating of “Hold” and an average price target of $7.94.

Fastly Price Performance

NYSE FSLY opened at $7.67 on Friday. The company has a market capitalization of $1.06 billion, a PE ratio of -6.18 and a beta of 1.24. Fastly has a 12-month low of $5.52 and a 12-month high of $25.87. The firm’s 50 day moving average is $7.09 and its 200-day moving average is $7.61. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last posted its quarterly earnings data 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 net margin of 31.02% and a negative return on equity of 15.22%. The company had revenue of $132.37 million for the quarter, compared to the consensus estimate of $131.62 million. During the same period last year, the company earned ($0.32) earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year.

Institutional Investors Weigh In On Fastly

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after purchasing an additional 657,334 shares during the period. Point72 Asset Management L.P. lifted its position in Fastly by 461.5% during the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after purchasing an additional 621,680 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after purchasing an additional 466,560 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Fastly during the second quarter worth about $1,233,000. Finally, Marshall Wace LLP lifted its position in Fastly by 1,197.4% during the second quarter. Marshall Wace LLP now owns 151,172 shares of the company’s stock worth $1,114,000 after purchasing an additional 139,520 shares during the period. Institutional investors own 79.71% of the company’s stock.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 16,748 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 $103,502.64. Following the completion of the transaction, the chief technology officer now directly owns 6,225,980 shares of the company’s stock, valued at $38,476,556.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the sale, the chief financial officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Artur Bergman sold 16,748 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $103,502.64. Following the completion of the sale, the chief technology officer now directly owns 6,225,980 shares of the company’s stock, valued at approximately $38,476,556.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,628 shares of company stock valued at $1,287,959 over the last ninety days. 6.70% of the stock is currently owned by company 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.