$48.16 Million in Sales Expected for Five9, Inc. (FIVN) This Quarter
Brokerages expect Five9, Inc. (NASDAQ:FIVN) to post $48.16 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Five9’s earnings, with estimates ranging from $47.65 million to $48.77 million. Five9 posted sales of $40.98 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.5%. The firm is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Five9 will report full-year sales of $48.16 million for the current year, with estimates ranging from $194.14 million to $196.12 million. For the next fiscal year, analysts forecast that the firm will report sales of $230.07 million per share, with estimates ranging from $222.75 million to $235.34 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Five9.
Several brokerages have issued reports on FIVN. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective (up previously from $21.00) on shares of Five9 in a report on Wednesday, August 9th. Zacks Investment Research raised Five9 from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, July 4th. Pacific Crest reiterated a “buy” rating and set a $22.00 target price on shares of Five9 in a research note on Thursday, May 4th. Morgan Stanley reiterated an “equal weight” rating and set a $21.00 target price (up previously from $18.00) on shares of Five9 in a research note on Thursday, July 20th. Finally, Canaccord Genuity increased their target price on shares of Five9 from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $22.29.
In other news, CFO Barry Zwarenstein sold 3,020 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $21.01, for a total transaction of $63,450.20. Following the completion of the sale, the chief financial officer now owns 126,722 shares in the company, valued at $2,662,429.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gaurav Passi sold 9,093 shares of the 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 sale, the executive vice president now owns 118,882 shares of the company’s stock, valued at approximately $2,848,412.72. The disclosure for this sale can be found here. Insiders have sold 93,284 shares of company stock valued at $2,050,540 in the last quarter. Insiders own 9.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Scge Management L.P. purchased a new stake in shares of Five9 during the first quarter worth approximately $18,702,000. Whale Rock Capital Management LLC purchased a new stake in shares of Five9 during the second quarter worth approximately $21,296,000. 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 last quarter. Russell Investments Group Ltd. increased its stake in shares of Five9 by 69.4% in the second quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock worth $36,650,000 after buying an additional 697,949 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Five9 by 25.5% in the second quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock worth $70,972,000 after buying an additional 670,939 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.
Shares of Five9 (NASDAQ FIVN) opened at 21.1715 on Wednesday. The company’s market cap is $1.17 billion. The stock’s 50 day moving average price is $21.55 and its 200-day moving average price is $19.78. Five9 has a 12 month low of $12.58 and a 12 month high of $24.80.
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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