Fastly (NYSE:FSLY) Updates Q1 Earnings Guidance

Fastly (NYSE:FSLY) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.13) – $0.11) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.11). The company issued revenue guidance of $58-60 million, compared to the consensus revenue estimate of $58.14 million.Fastly also updated its FY 2020
After-Hours guidance to -0.43–0.32 EPS.

Shares of Fastly stock traded down $1.48 during trading hours on Friday, reaching $23.11. 5,899,138 shares of the company’s stock were exchanged, compared to its average volume of 1,488,882. The company has a 50 day moving average of $22.77 and a two-hundred day moving average of $22.58. Fastly has a fifty-two week low of $14.12 and a fifty-two week high of $35.25. The stock has a market cap of $2.30 billion and a P/E ratio of -33.01.

FSLY has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Fastly from to in a research note on Friday. Zacks Investment Research downgraded shares of Fastly from a buy rating to a hold rating in a research note on Thursday, January 23rd. Finally, Piper Jaffray Companies upgraded shares of Fastly from a neutral rating to an overweight rating and set a $24.00 price objective for the company in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $25.49.

In related news, CEO Artur Bergman sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $20.31, for a total value of $152,325.00. Following the completion of the sale, the chief executive officer now directly owns 310,389 shares in the company, valued at approximately $6,304,000.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Hornik sold 85,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $22.77, for a total transaction of $1,935,450.00. Following the completion of the sale, the director now owns 118,336 shares of the company’s stock, valued at $2,694,510.72. The disclosure for this sale can be found here. Insiders sold a total of 425,027 shares of company stock valued at $9,400,158 over the last quarter.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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