Five9 Inc. (FIVN) Receives Consensus Rating of “Buy” from Brokerages
Shares of Five9 Inc. (NASDAQ:FIVN) have been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.17.
Several research analysts recently commented on FIVN shares. Bank of America Corp. downgraded shares of Five9 from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 20th. Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, October 4th. Barclays PLC lifted their price target on shares of Five9 from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, July 15th. Finally, Needham & Company LLC lifted their price target on shares of Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, August 4th.
Five9 (NASDAQ:FIVN) traded down 1.89% on Tuesday, reaching $15.03. 90,466 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $14.94 and its 200 day moving average price is $11.97. Five9 has a 12 month low of $3.63 and a 12 month high of $16.40. The company’s market cap is $789.89 million.
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Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. Five9 had a negative net margin of 12.36% and a negative return on equity of 65.04%. The company had revenue of $38.90 million for the quarter, compared to the consensus estimate of $36.86 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities analysts expect that Five9 will post ($0.14) EPS for the current fiscal year.
In other news, CEO Michael Burkland sold 16,000 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $12.12, for a total transaction of $193,920.00. Following the sale, the chief executive officer now owns 953,000 shares in the company, valued at approximately $11,550,360. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Barry Zwarenstein sold 8,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $15.67, for a total transaction of $125,360.00. Following the sale, the chief financial officer now owns 422,508 shares in the company, valued at approximately $6,620,700.36. The disclosure for this sale can be found here. Insiders own 40.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in FIVN. Lord Abbett & CO. LLC boosted its position in shares of Five9 by 211.2% in the second quarter. Lord Abbett & CO. LLC now owns 2,048,284 shares of the company’s stock worth $24,375,000 after buying an additional 1,390,071 shares during the last quarter. Polar Capital LLP purchased a new position in shares of Five9 during the second quarter worth about $14,496,000. Allianz Asset Management AG boosted its position in shares of Five9 by 300.1% in the second quarter. Allianz Asset Management AG now owns 1,576,487 shares of the company’s stock worth $18,760,000 after buying an additional 1,182,481 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Five9 by 246.5% in the second quarter. JPMorgan Chase & Co. now owns 983,339 shares of the company’s stock worth $11,702,000 after buying an additional 699,539 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Five9 during the second quarter worth about $4,268,000. Hedge funds and other institutional investors own 83.84% of the company’s stock.
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.
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