DA Davidson Estimates Fastly’s FY2024 Earnings (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLY) – Research analysts at DA Davidson raised their FY2024 EPS estimates for shares of Fastly in a research report issued to clients and investors on Thursday, November 7th. DA Davidson analyst R. Kessinger now expects that the company will earn ($0.91) per share for the year, up from their previous estimate of ($0.96). DA Davidson has a “Neutral” rating and a $7.50 price target on the stock. The consensus estimate for Fastly’s current full-year earnings is ($0.95) per share. DA Davidson also issued estimates for Fastly’s FY2025 earnings at ($0.77) EPS.

A number of other equities analysts have also commented on the stock. Piper Sandler raised their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum raised their price objective on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Fastly currently has a consensus rating of “Hold” and a consensus target price of $7.94.

Fastly Trading Down 1.6 %

FSLY stock opened at $7.07 on Monday. 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 $7.11 and its 200 day moving average is $7.50. The company has a market capitalization of $979.21 million, a PE ratio of -6.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.19% and a negative net margin of 27.47%. The firm had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Fastly by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock valued at $133,000 after acquiring an additional 863 shares during the period. EntryPoint Capital LLC increased its holdings in shares of Fastly by 41.1% in the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after purchasing an additional 1,643 shares during the period. CWM LLC raised its stake in shares of Fastly by 10.5% in the second quarter. CWM LLC now owns 22,266 shares of the company’s stock worth $164,000 after purchasing an additional 2,121 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after purchasing an additional 2,128 shares during the period. Finally, Blue Trust Inc. boosted its position in Fastly by 15.2% in the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after buying an additional 2,296 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 value of $53,930.76. Following the sale, the chief financial officer now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the completion of the sale, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at $10,277,043.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,628 shares of company stock worth $1,287,959 in the last three months. 6.70% of the stock is owned by 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.