Fastly (NYSE:FSLY – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of -$0.60–$0.50 for the period, compared to the consensus EPS estimate of -$0.55. The company issued revenue guidance of $405.00 million-$415.00 million, compared to the consensus revenue estimate of $407.23 million.Fastly also updated its Q2 2022 guidance to -$0.18–$0.15 EPS.
A number of equities analysts recently issued reports on the company. KeyCorp assumed coverage on Fastly in a report on Tuesday, January 18th. They issued a sector weight rating for the company. Piper Sandler decreased their price objective on Fastly from $35.00 to $23.00 and set a neutral rating for the company in a report on Thursday, February 17th. Royal Bank of Canada decreased their price objective on Fastly from $30.00 to $20.00 and set a sector perform rating for the company in a report on Thursday, February 17th. Morgan Stanley decreased their price objective on Fastly from $25.00 to $18.00 in a report on Thursday. Finally, Citigroup decreased their price target on Fastly from $22.00 to $14.00 and set a sell rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $24.67.
Shares of FSLY traded down $1.38 during mid-day trading on Monday, reaching $11.74. The company’s stock had a trading volume of 5,616,580 shares, compared to its average volume of 5,193,118. The business has a fifty day moving average of $16.94 and a 200 day moving average of $29.48. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -5.82 and a beta of 1.48. Fastly has a 1 year low of $11.63 and a 1 year high of $64.07. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 0.94.
Fastly (NYSE:FSLY – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Fastly had a negative return on equity of 20.60% and a negative net margin of 63.54%. The firm had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $98.94 million. During the same quarter in the prior year, the business posted ($0.39) earnings per share. Fastly’s revenue was up 20.7% on a year-over-year basis. On average, analysts predict that Fastly will post -1.77 earnings per share for the current year.
In other Fastly news, insider Artur Bergman sold 9,630 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $28.64, for a total transaction of $275,803.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brett Shirk sold 2,888 shares of the stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $13.96, for a total transaction of $40,316.48. The disclosure for this sale can be found here. Insiders have sold 39,428 shares of company stock worth $996,487 over the last three months. Company insiders own 10.32% of the company’s stock.
Large investors have recently modified their holdings of the company. Penserra Capital Management LLC grew its position in Fastly by 38.0% during the fourth quarter. Penserra Capital Management LLC now owns 2,048 shares of the company’s stock worth $72,000 after buying an additional 564 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Fastly during the fourth quarter worth about $75,000. Cetera Investment Advisers acquired a new stake in Fastly during the fourth quarter worth about $241,000. Lombard Odier Asset Management USA Corp acquired a new stake in Fastly during the fourth quarter worth about $241,000. Finally, Toroso Investments LLC grew its position in Fastly by 42.9% during the fourth quarter. Toroso Investments LLC now owns 7,309 shares of the company’s stock worth $259,000 after buying an additional 2,195 shares in the last quarter. 65.08% of the stock is currently owned by institutional investors.
Fastly Company Profile (Get Rating)
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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