Fastly, Inc. Forecasted to Post Q1 2023 Earnings of ($0.41) Per Share (NYSE:FSLY)

Fastly, Inc. (NYSE:FSLYGet Rating) – Analysts at KeyCorp raised their Q1 2023 earnings estimates for Fastly in a research report issued on Sunday, November 20th. KeyCorp analyst T. Blakey now anticipates that the company will post earnings per share of ($0.41) for the quarter, up from their previous estimate of ($0.42). The consensus estimate for Fastly’s current full-year earnings is ($1.89) per share. KeyCorp also issued estimates for Fastly’s Q3 2023 earnings at ($0.39) EPS, Q4 2023 earnings at ($0.38) EPS and FY2023 earnings at ($1.59) EPS.

FSLY has been the subject of several other reports. Raymond James cut their price objective on shares of Fastly from $35.00 to $25.00 and set a “strong-buy” rating for the company in a research report on Friday, August 12th. Craig Hallum dropped their price target on shares of Fastly from $19.00 to $13.00 in a research report on Thursday, August 4th. DA Davidson dropped their price target on shares of Fastly to $12.00 in a research report on Tuesday, August 9th. Morgan Stanley dropped their price target on shares of Fastly from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Thursday, October 20th. Finally, Citigroup dropped their price target on shares of Fastly from $10.00 to $8.00 and set a “sell” rating for the company in a research report on Tuesday, November 8th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.39.

Fastly Stock Performance

NYSE:FSLY opened at $8.59 on Wednesday. Fastly has a twelve month low of $7.32 and a twelve month high of $44.08. The company has a market cap of $1.06 billion, a P/E ratio of -5.08 and a beta of 1.24. The company’s 50-day moving average price is $8.70 and its 200-day moving average price is $10.44. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.75.

Hedge Funds Weigh In On Fastly

A number of large investors have recently bought and sold shares of FSLY. SG Americas Securities LLC grew its stake in Fastly by 181.0% in the 1st quarter. SG Americas Securities LLC now owns 43,876 shares of the company’s stock valued at $763,000 after acquiring an additional 28,263 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Fastly by 98.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 133,431 shares of the company’s stock worth $2,319,000 after acquiring an additional 66,143 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Fastly by 29,392.1% in the first quarter. National Bank of Canada FI now owns 92,900 shares of the company’s stock worth $1,614,000 after acquiring an additional 92,585 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in shares of Fastly in the first quarter worth approximately $370,000. Finally, Qube Research & Technologies Ltd purchased a new position in Fastly in the first quarter valued at approximately $11,496,000. Hedge funds and other institutional investors own 65.42% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brett Shirk sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $9.92, for a total transaction of $69,440.00. Following the sale, the executive vice president now directly owns 263,244 shares of the company’s stock, valued at approximately $2,611,380.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Fastly news, EVP Brett Shirk sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $9.92, for a total transaction of $69,440.00. Following the completion of the transaction, the executive vice president now owns 263,244 shares in the company, valued at approximately $2,611,380.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Nightingale sold 66,317 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $10.44, for a total transaction of $692,349.48. Following the completion of the transaction, the chief executive officer now owns 1,238,030 shares of the company’s stock, valued at approximately $12,925,033.20. The disclosure for this sale can be found here. Insiders have sold a total of 515,081 shares of company stock valued at $5,136,875 in the last ninety days. Company insiders own 8.90% of the company’s stock.

Fastly Company Profile

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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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Earnings History and Estimates for Fastly (NYSE:FSLY)

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