Fastly (NYSE:FSLY) Announces Earnings Results

Fastly (NYSE:FSLY) issued its earnings results on Wednesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22), Zacks reports. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%.

Fastly Trading Up 0.4 %

Shares of Fastly stock traded up $0.04 during trading on Wednesday, reaching $10.10. 8,617,666 shares of the stock were exchanged, compared to its average volume of 2,580,693. Fastly has a 1 year low of $5.52 and a 1 year high of $23.94. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -9.27 and a beta of 1.26. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $10.02 and its 200 day moving average is $8.10.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FSLY shares. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Piper Sandler raised their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. DA Davidson lifted their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup increased their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Fastly has an average rating of “Hold” and a consensus price target of $8.85.

Insiders Place Their Bets

In related news, CEO Todd Nightingale sold 49,816 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ronald W. Kisling sold 16,102 shares of Fastly stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $100,637.50. Following the sale, the chief financial officer now directly owns 542,462 shares in the company, valued at approximately $3,390,387.50. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,152 shares of company stock worth $2,182,083. 6.70% of the stock is currently owned by company insiders.

Fastly Company Profile

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.