Five9, Inc. (NASDAQ:FIVN) PT Raised to $25.00
Five9, Inc. (NASDAQ:FIVN) had its price objective increased by research analysts at Canaccord Genuity from $23.00 to $25.00 in a report issued on Friday. The firm presently has a “buy” rating on the software maker’s stock. Canaccord Genuity’s price target would suggest a potential upside of 18.37% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Pacific Crest restated a “buy” rating and set a $22.00 target price on shares of Five9 in a report on Thursday, May 4th. Zacks Investment Research upgraded Five9 from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, July 4th. Morgan Stanley started coverage on Five9 in a report on Tuesday, April 11th. They set an “equal weight” rating and a $18.00 target price on the stock. BidaskClub cut Five9 from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Northland Securities set a $25.00 target price on Five9 and gave the stock a “buy” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Five9 has a consensus rating of “Buy” and an average target price of $21.57.
Shares of Five9 (FIVN) traded down 1.22% during mid-day trading on Friday, reaching $21.12. 902,076 shares of the company were exchanged. The firm’s market capitalization is $1.16 billion. Five9 has a 12 month low of $12.27 and a 12 month high of $24.80. The company’s 50-day moving average is $22.11 and its 200 day moving average is $19.21.
Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Wednesday, May 3rd. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Five9 had a negative return on equity of 44.34% and a negative net margin of 7.08%. The business had revenue of $47.01 million for the quarter, compared to analysts’ expectations of $44.67 million. During the same quarter last year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. Analysts predict that Five9 will post ($0.02) EPS for the current year.
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In other news, EVP Gaurav Passi sold 75,046 shares of Five9 stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $21.44, for a total transaction of $1,608,986.24. Following the transaction, the executive vice president now owns 132,980 shares in the company, valued at approximately $2,851,091.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Barry Zwarenstein sold 10,378 shares of Five9 stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $22.22, for a total value of $230,599.16. Following the transaction, the chief financial officer now owns 129,742 shares in the company, valued at approximately $2,882,867.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,485 shares of company stock worth $5,189,765. Company insiders own 9.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Scge Management L.P. acquired a new position in Five9 during the first quarter valued at $18,702,000. Wells Fargo & Company MN boosted its position in Five9 by 124.1% in the first quarter. Wells Fargo & Company MN now owns 1,400,229 shares of the software maker’s stock valued at $23,048,000 after buying an additional 775,345 shares during the period. Russell Investments Group Ltd. boosted its position in Five9 by 69.4% in the second quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock valued at $36,650,000 after buying an additional 697,949 shares during the period. Granite Investment Partners LLC acquired a new position in Five9 during the first quarter valued at $10,710,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Five9 during the first quarter valued at $9,797,000. Institutional investors and hedge funds own 93.30% 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. 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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