Five9, Inc. (FIVN) Upgraded to “Buy” by Zacks Investment Research
Five9, Inc. (NASDAQ:FIVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $28.00 price objective on the software maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.58% from the stock’s previous close.
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. “
FIVN has been the topic of several other reports. Northland Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Five9 in a research report on Friday, September 1st. Canaccord Genuity upped their price objective on Five9 from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. KeyCorp reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Five9 in a research report on Friday, September 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $21.00 price objective (up from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Finally, ValuEngine raised Five9 from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Five9 has a consensus rating of “Buy” and an average target price of $24.75.
Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. The business had revenue of $50.08 million for the quarter, compared to analysts’ expectations of $48.20 million. Five9 had a negative return on equity of 34.14% and a negative net margin of 4.19%. Five9’s revenue for the quarter was up 22.2% compared to the same quarter last year. analysts expect that Five9 will post -0.19 EPS for the current fiscal year.
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In other news, EVP Scott Welch sold 3,903 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $20.88, for a total transaction of $81,494.64. Following the transaction, the executive vice president now directly owns 136,799 shares of the company’s stock, valued at approximately $2,856,363.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel P. Burkland sold 10,000 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $24.88, for a total value of $248,800.00. Following the transaction, the executive vice president now directly owns 146,436 shares in the company, valued at $3,643,327.68. The disclosure for this sale can be found here. Insiders have sold a total of 74,719 shares of company stock worth $1,658,903 over the last three months. Insiders own 9.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Five9 by 4,389.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,567 shares of the software maker’s stock valued at $120,000 after buying an additional 5,443 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of Five9 during the 3rd quarter valued at $195,000. Tudor Investment Corp ET AL bought a new position in shares of Five9 during the 2nd quarter valued at $202,000. Principal Financial Group Inc. bought a new position in shares of Five9 during the 2nd quarter valued at $219,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Five9 by 20.8% during the 2nd quarter. D.A. Davidson & CO. now owns 11,476 shares of the software maker’s stock valued at $246,000 after buying an additional 1,976 shares during the period. 91.67% of the stock is currently owned by hedge funds and other institutional investors.
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. 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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