Fastly (NYSE:FSLY) Updates Q3 Earnings Guidance

Fastly (NYSE:FSLY) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.15-0.12) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.13). The company issued revenue guidance of $47-49 million, compared to the consensus revenue estimate of $47.85 million.Fastly also updated its FY19 guidance to ($0.59-0.51) EPS.

Several analysts have issued reports on the company. Robert W. Baird assumed coverage on Fastly in a research note on Tuesday, June 11th. They issued an outperform rating and a $28.00 price objective on the stock. CIBC assumed coverage on Fastly in a research note on Tuesday, June 11th. They issued an outperform rating and a $27.00 price objective on the stock. Raymond James assumed coverage on Fastly in a research note on Wednesday, June 12th. They issued a market perform rating and a $22.87 price objective on the stock. Citigroup assumed coverage on Fastly in a research note on Wednesday, June 12th. They issued a neutral rating and a $23.00 price objective on the stock. Finally, Craig Hallum assumed coverage on Fastly in a research note on Friday, June 21st. They issued a buy rating and a $24.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $25.44.

NYSE:FSLY traded down $3.81 on Friday, hitting $17.29. The company’s stock had a trading volume of 4,306,175 shares, compared to its average volume of 667,466. The firm has a fifty day moving average of $20.63. Fastly has a one year low of $15.50 and a one year high of $25.67.

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

In other news, major shareholder Qualified Master Fund L. Abdiel bought 153,248 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were bought at an average price of $17.25 per share, with a total value of $2,643,528.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel bought 38,170 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost of $21.39 per share, for a total transaction of $816,456.30. The disclosure for this purchase can be found here. Insiders bought 587,498 shares of company stock worth $11,546,419 in the last ninety days.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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