FSLY - Fastly Q3 earnings on deck: what to expect
2023-10-31 10:54:29 ET
Fastly ( NYSE: FSLY ) is set to report third quarter results on Wednesday after markets close and investors will look for improvement in the cloud computing services provider’s profitability.
Wall Street expects the San Francisco, California-based company to post loss per share of $0.08, while revenue is expected to be $126.9 million, implying a rise of 17% y-o-y.
Earlier in August, the company posted second-quarter results that topped estimates and raised its full-year guidance.
Raymond James analyst Frank Louthan said the company's longer-term picture looks good, even after the company saw "lighter than expected” September traffic.
“While revenue growth rates may not be exceptional, Fastly's focus on profitability and cash flow positivity is evident, despite challenges related to its balance sheet. The stock is attractively priced,” added Seeking Alpha analyst Michael Wiggins De Oliveira.
Over the last two years, Fastly has beaten EPS estimates 75% of the time and has beaten revenue estimates 100% of the time.
Seeking Alpha analysts and Seeking Alpha’s Quant ratings consider the stock a “Buy”, while Wall Street analysts rated it a “Hold”. The stock has gained more than 70% so far this year.
Over the last three months, EPS estimates have been revised upward one time, compared to ten downward revisions, while revenue estimates have seen seven upward revisions versus two downward moves.
More on Fastly
- Momentum Is Now On Fastly's Side
- Fastly: Attractively Priced Amid Solid Turnaround
- Fastly reiterated strong buy at Raymond James ahead of Q3 results
- Fastly surges as analysts praise execution; company files mixed shelf offering
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Fastly Q3 earnings on deck: what to expect