Cloud computing service provider Fastly (NYSE:FSLY) is set to report its Q3 results on Wednesday, with analysts and investors waiting on the sidelines to assess the company’s profitability. Shares of the company traded higher in Tuesday’s afternoon trading session.
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Going into Wednesday, analysts expect the California-based company to post a loss per share of $0.08. When it comes to revenue, they expect it to be at $126.9 million, a 17% year-over-year increase.
At its Q2 report in August, Fastly reported impressive earnings and revenue, which exceeded expectations. At the same time, the company also raised its full-year outlook.
Indeed, Fastly said it expects revenue in the range of $125 million to $128 million. On a full-year outlook, it estimates revenue to be between $500 million to $510 million.
Meanwhile, Raymond James analyst Frank Louthan earlier in October reiterated his Buy rating on Fastly. Despite noting a slowdown in the company’s business in September, Louthan maintained Fastly’s longer-term picture looked good.
Fastly has exceeded EPS expectations 75% of the time over the past two years. Likewise, its revenue has beaten estimates 100% of the time.
What is the Future Price of FSLY Stock?
Turning to Wall Street, analysts have a Hold consensus rating on FSLY stock based on zero Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic above. Furthermore, the average FSLY price target of $15.00 per share implies a 3.13% upside potential.
