Fastly Inc (NYSE:FSLY) Expected to Post Quarterly Sales of $48.37 Million

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Equities analysts expect Fastly Inc (NYSE:FSLY) to post $48.37 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Fastly’s earnings, with the highest sales estimate coming in at $49.00 million and the lowest estimate coming in at $47.68 million. The firm is scheduled to announce its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Fastly will report full year sales of $193.58 million for the current year, with estimates ranging from $192.04 million to $195.80 million. For the next financial year, analysts expect that the firm will post sales of $249.86 million, with estimates ranging from $246.26 million to $254.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Fastly.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). The company had revenue of $46.17 million for the quarter, compared to the consensus estimate of $45.31 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. Fastly’s quarterly revenue was up 34.0% compared to the same quarter last year.

A number of research firms recently issued reports on FSLY. Craig Hallum assumed coverage on shares of Fastly in a research note on Friday, June 21st. They issued a “buy” rating and a $24.00 price target for the company. Oppenheimer assumed coverage on shares of Fastly in a report on Tuesday, June 11th. They issued an “outperform” rating and a $27.00 price objective on the stock. Stifel Nicolaus set a $25.00 price objective on shares of Fastly and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup assumed coverage on shares of Fastly in a report on Wednesday, June 12th. They issued a “neutral” rating and a $23.00 price objective on the stock. Finally, CIBC assumed coverage on shares of Fastly in a report on Tuesday, June 11th. They issued an “outperform” rating and a $27.00 price objective on the stock. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Fastly currently has a consensus rating of “Buy” and a consensus target price of $25.03.

In other news, major shareholder Qualified Master Fund L. Abdiel purchased 38,170 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $21.39 per share, for a total transaction of $816,456.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel purchased 137,515 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were purchased at an average price of $20.32 per share, for a total transaction of $2,794,304.80. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 587,498 shares of company stock worth $11,546,419.

Several large investors have recently bought and sold shares of FSLY. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of Fastly during the second quarter valued at approximately $41,000. Pentwater Capital Management LP purchased a new stake in shares of Fastly during the second quarter valued at approximately $142,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Fastly during the second quarter valued at approximately $203,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Fastly during the second quarter valued at approximately $227,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Fastly during the second quarter valued at approximately $231,000. Hedge funds and other institutional investors own 0.02% of the company’s stock.

FSLY stock traded up $0.62 during trading on Tuesday, reaching $16.39. The company had a trading volume of 1,665,900 shares, compared to its average volume of 985,274. Fastly has a 52 week low of $14.12 and a 52 week high of $25.67. The business’s 50 day moving average price is $20.44.

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