Zacks Investment Research Upgrades Five9, Inc. (NASDAQ:FIVN) to Buy
Five9, Inc. (NASDAQ:FIVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $24.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.10% from the company’s current price.
According to Zacks, “Five9 provides cloud software for contact centers. The Company offers software products such as workforce management, speech recognition, predictive dialer, and voice applications. It offers virtual contact center cloud platform that acts as the hub for interactions between its clients and their customers, enabling contact center operations focused on inbound or outbound customer interactions in a single unified architecture. The Company serves customers in various industries, including banking and financial services, business process outsourcers, consumer, healthcare, and technology. Five9, Inc. is headquartered in San Ramon, California. “
Several other research analysts have also recently commented on the company. BidaskClub cut Five9 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Pacific Crest reissued a “buy” rating and set a $22.00 target price on shares of Five9 in a research note on Thursday, May 4th. Canaccord Genuity reissued a “buy” rating and set a $20.00 target price on shares of Five9 in a research note on Monday, May 1st. Morgan Stanley began coverage on Five9 in a research note on Tuesday, April 11th. They set an “equal weight” rating and a $18.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Five9 in a research note on Sunday, April 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.00.
Shares of Five9 (NASDAQ FIVN) traded down 1.39% during midday trading on Tuesday, hitting $21.22. The company had a trading volume of 237,523 shares. The firm’s market capitalization is $1.16 billion. The company has a 50-day moving average of $22.33 and a 200 day moving average of $17.98. Five9 has a 12 month low of $11.46 and a 12 month high of $24.80.
Five9 (NASDAQ:FIVN) last released its earnings results on Wednesday, May 3rd. The software maker reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Five9 had a negative return on equity of 42.68% and a negative net margin of 7.13%. The firm had revenue of $47.01 million during the quarter, compared to analysts’ expectations of $44.67 million. During the same period in the previous year, the firm posted ($0.05) EPS. Five9’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, analysts expect that Five9 will post ($0.02) EPS for the current fiscal year.
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In other Five9 news, EVP Gaurav Passi sold 9,093 shares of Five9 stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $23.96, for a total transaction of $217,868.28. Following the completion of the sale, the executive vice president now directly owns 118,882 shares of the company’s stock, valued at approximately $2,848,412.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Burkland sold 24,000 shares of Five9 stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $16.55, for a total value of $397,200.00. Following the sale, the chief executive officer now directly owns 988,575 shares of the company’s stock, valued at $16,360,916.25. The disclosure for this sale can be found here. Insiders have sold a total of 238,485 shares of company stock valued at $5,024,028 over the last three months. 9.10% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in FIVN. Scge Management L.P. acquired a new stake in shares of Five9 during the first quarter worth about $18,702,000. Wells Fargo & Company MN increased its stake in shares of Five9 by 124.1% in the first quarter. Wells Fargo & Company MN now owns 1,400,229 shares of the software maker’s stock worth $23,048,000 after buying an additional 775,345 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of Five9 during the first quarter worth about $10,710,000. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Five9 during the first quarter worth about $9,797,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Five9 during the first quarter worth about $9,797,000. 91.68% of the stock is owned by institutional investors.
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. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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