Five9 Inc. (NASDAQ:FIVN) was downgraded by investment analysts at Bank of America Corp. from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday.

A number of other analysts have also recently issued reports on FIVN. Barclays PLC restated a “buy” rating on shares of Five9 in a research report on Sunday, July 17th. Needham & Company LLC upped their price target on Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Craig Hallum initiated coverage on Five9 in a research report on Thursday, June 9th. They issued a “buy” rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Five9 presently has a consensus rating of “Buy” and a consensus price target of $13.44.

Five9 (NASDAQ:FIVN) traded down 1.46% on Tuesday, reaching $14.16. The company had a trading volume of 1,147,825 shares. Five9 has a 12 month low of $3.48 and a 12 month high of $16.23. The company’s market capitalization is $744.16 million. The company’s 50 day moving average price is $14.21 and its 200-day moving average price is $11.25.

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Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $36.86 million. Five9 had a negative return on equity of 65.04% and a negative net margin of 12.36%. Five9’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. On average, equities analysts predict that Five9 will post ($0.14) earnings per share for the current fiscal year.

In other news, insider Daniel P. Burkland sold 2,626 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $15.75, for a total transaction of $41,359.50. Following the transaction, the insider now owns 121,893 shares of the company’s stock, valued at $1,919,814.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Adams Street Partners Llc sold 1,813,043 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $13.25, for a total value of $24,022,819.75. The disclosure for this sale can be found here. 40.20% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Five9 during the second quarter valued at about $115,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Five9 during the second quarter valued at about $130,000. BlackRock Inc. raised its position in shares of Five9 by 721.3% in the second quarter. BlackRock Inc. now owns 11,941 shares of the company’s stock valued at $142,000 after buying an additional 10,487 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of Five9 during the first quarter valued at about $164,000. Finally, TFS Capital LLC purchased a new position in shares of Five9 during the second quarter valued at about $174,000. 83.84% of the stock is currently owned by institutional investors and hedge funds.

Five9 Company Profile

Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. It facilitates over three billion interactions between its 2,000 clients and clients’ customers per year.

5 Day Chart for NASDAQ:FIVN

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