Equities analysts predict that Fastly Inc (NYSE:FSLY) will report $55.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Fastly’s earnings, with estimates ranging from $54.44 million to $56.40 million. The company is expected to issue its next earnings report on Thursday, February 6th.

According to Zacks, analysts expect that Fastly will report full-year sales of $196.56 million for the current year, with estimates ranging from $195.96 million to $198.00 million. For the next financial year, analysts forecast that the company will report sales of $254.11 million, with estimates ranging from $250.16 million to $256.10 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Fastly.

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

Shares of FSLY stock traded up $0.04 during midday trading on Monday, reaching $20.65. 1,954,187 shares of the company were exchanged, compared to its average volume of 1,378,120. Fastly has a 12 month low of $14.12 and a 12 month high of $35.25. The business has a 50 day simple moving average of $21.96.

In related news, CEO Artur Bergman sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the sale, the chief executive officer now directly owns 310,389 shares in the company, valued at approximately $6,366,078.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder August Capital Management Vi, sold 76,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $20.82, for a total transaction of $1,582,549.02. The disclosure for this sale can be found here.

Institutional investors have recently added to or reduced their stakes in the company. Abdiel Capital Advisors LP purchased a new position in shares of Fastly in the second quarter worth approximately $45,696,000. Morgan Stanley purchased a new position in shares of Fastly in the second quarter worth approximately $1,659,000. Laurion Capital Management LP purchased a new position in shares of Fastly in the second quarter worth approximately $1,470,000. Waddell & Reed Financial Inc. purchased a new position in shares of Fastly in the second quarter worth approximately $22,879,000. Finally, Jane Street Group LLC purchased a new position in shares of Fastly in the second quarter worth approximately $592,000. 14.33% of the stock is currently owned by institutional investors and hedge funds.

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Earnings History and Estimates for Fastly (NYSE:FSLY)

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