Fastly (NYSE:FSLY) Issues FY19 Earnings Guidance

Fastly (NYSE:FSLY) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of ($0.54)-($0.51) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.58). The company issued revenue guidance of $194-198 million, compared to the consensus revenue estimate of $192.88 million.Fastly also updated its Q4 guidance to ($0.13)-($0.10) EPS.

Several equities research analysts have recently commented on FSLY shares. Piper Jaffray Companies lowered shares of Fastly from an overweight rating to a neutral rating and boosted their price target for the company from $21.00 to $24.00 in a report on Friday, October 11th. Zacks Investment Research upgraded shares of Fastly from a sell rating to a hold rating in a report on Wednesday, October 16th. Stifel Nicolaus set a $25.00 price target on shares of Fastly and gave the company a buy rating in a report on Friday, August 9th. Citigroup boosted their price target on shares of Fastly from $17.00 to $25.00 and gave the company a neutral rating in a report on Friday, October 18th. Finally, ValuEngine lowered shares of Fastly from a buy rating to a hold rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $25.49.

Shares of NYSE:FSLY traded down $0.45 during trading hours on Thursday, hitting $18.97. The company’s stock had a trading volume of 968,333 shares, compared to its average volume of 1,140,313. The company’s fifty day moving average is $22.87. Fastly has a 52 week low of $14.12 and a 52 week high of $35.25.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The company had revenue of $46.17 million for the quarter, compared to analysts’ expectations of $45.31 million. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) EPS. Sell-side analysts expect that Fastly will post -0.58 EPS for the current fiscal year.

In other news, major shareholder Qualified Master Fund L. Abdiel acquired 359,071 shares of Fastly stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average price of $21.84 per share, for a total transaction of $7,842,110.64. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Qualified Master Fund L. Abdiel acquired 849,413 shares of Fastly stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average price of $17.40 per share, with a total value of $14,779,786.20. The disclosure for this purchase can be found here.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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