Fastly (FSLY) to Release Quarterly Earnings on Wednesday

Fastly (NYSE:FSLY) is scheduled to be announcing its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Fastly Trading Down 5.6 %

Shares of NYSE:FSLY opened at $7.09 on Tuesday. The company has a market cap of $968.76 million, a P/E ratio of -7.16 and a beta of 1.13. The stock’s 50-day moving average is $7.57 and its 200-day moving average is $11.92. Fastly has a 52-week low of $6.65 and a 52-week high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83.

Insiders Place Their Bets

In other Fastly news, CEO Todd Nightingale sold 65,447 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $578,551.48. Following the completion of the transaction, the chief executive officer now owns 1,741,181 shares in the company, valued at $15,392,040.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Ronald W. Kisling sold 2,919 shares of Fastly stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $8.92, for a total value of $26,037.48. Following the completion of the transaction, the chief financial officer now owns 606,712 shares in the company, valued at $5,411,871.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Nightingale sold 65,447 shares of Fastly stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $578,551.48. Following the completion of the transaction, the chief executive officer now owns 1,741,181 shares of the company’s stock, valued at approximately $15,392,040.04. The disclosure for this sale can be found here. Insiders sold a total of 135,217 shares of company stock worth $1,176,853 over the last quarter. Company insiders own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FSLY. Citigroup lowered their price target on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Piper Sandler decreased their target price on Fastly from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada decreased their target price on Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. DA Davidson downgraded Fastly from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $8.50 in a research report on Thursday, May 2nd. Finally, Bank of America downgraded Fastly from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $18.00 to $8.00 in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Fastly presently has a consensus rating of “Hold” and a consensus price target of $12.93.

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.