Fastly (NYSE:FSLY) Releases FY19 Earnings Guidance

Fastly (NYSE:FSLY) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.59-0.51) for the period, compared to the Thomson Reuters consensus estimate of ($0.51). The company issued revenue guidance of $191-195 million, compared to the consensus revenue estimate of $191.28 million.Fastly also updated its Q3 guidance to ($0.15-0.12) EPS.

Several equities analysts recently issued reports on the company. CIBC assumed coverage on Fastly in a research report on Tuesday, June 11th. They set an outperform rating and a $27.00 price target on the stock. William Blair assumed coverage on Fastly in a research report on Tuesday, June 11th. They set an outperform rating on the stock. Stifel Nicolaus assumed coverage on Fastly in a research report on Tuesday, June 11th. They set a buy rating and a $25.00 price target on the stock. Robert W. Baird assumed coverage on Fastly in a research report on Tuesday, June 11th. They set an outperform rating and a $28.00 price target on the stock. Finally, Craig Hallum assumed coverage on Fastly in a research report on Friday, June 21st. They set a buy rating and a $24.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $25.44.

FSLY traded down $3.81 on Friday, hitting $17.29. 4,306,175 shares of the company were exchanged, compared to its average volume of 667,466. The stock’s fifty day moving average price is $20.63. Fastly has a 12 month low of $15.50 and a 12 month high of $25.67.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The company had revenue of $46.17 million during the quarter, compared to analyst estimates of $45.31 million. During the same quarter last year, the firm posted ($0.20) EPS. Fastly’s revenue was up 34.0% compared to the same quarter last year. On average, equities research analysts anticipate that Fastly will post -0.51 EPS for the current fiscal year.

In other Fastly news, major shareholder Qualified Master Fund L. Abdiel acquired 137,702 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $21.29 per share, for a total transaction of $2,931,675.58. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 153,248 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was acquired at an average price of $17.25 per share, with a total value of $2,643,528.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 587,498 shares of company stock valued at $11,546,419.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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