Five9 (NASDAQ:FIVN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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 firms have also issued reports on FIVN. BidaskClub raised shares of Five9 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 16th. Needham & Company LLC boosted their price target on shares of Five9 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Craig Hallum lowered their price target on shares of Five9 from $64.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, February 20th. Canaccord Genuity boosted their price target on shares of Five9 from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. They noted that the move was a valuation call. Finally, SunTrust Banks boosted their price target on shares of Five9 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Five9 has a consensus rating of “Buy” and a consensus price target of $52.38.

Shares of NASDAQ FIVN traded up $0.48 during midday trading on Thursday, hitting $51.00. The company’s stock had a trading volume of 403,926 shares, compared to its average volume of 870,629. Five9 has a one year low of $26.92 and a one year high of $57.90. The company has a quick ratio of 6.96, a current ratio of 6.96 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.99 billion, a P/E ratio of 340.00 and a beta of 0.62.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Tuesday, February 19th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.10. Five9 had a negative net margin of 0.09% and a positive return on equity of 7.20%. The company had revenue of $72.34 million for the quarter, compared to analyst estimates of $66.53 million. Equities analysts expect that Five9 will post -0.05 EPS for the current year.

In related news, CFO Barry Zwarenstein sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $51.41, for a total transaction of $436,985.00. Following the completion of the transaction, the chief financial officer now owns 92,599 shares of the company’s stock, valued at $4,760,514.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Scott Welch sold 1,032 shares of the business’s stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $46.17, for a total transaction of $47,647.44. Following the transaction, the executive vice president now directly owns 63,831 shares of the company’s stock, valued at approximately $2,947,077.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 287,989 shares of company stock valued at $15,328,134. 5.10% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of FIVN. Vanguard Group Inc. grew its stake in Five9 by 19.3% during the third quarter. Vanguard Group Inc. now owns 6,338,262 shares of the software maker’s stock valued at $276,920,000 after acquiring an additional 1,026,191 shares in the last quarter. Vanguard Group Inc grew its stake in Five9 by 19.3% during the third quarter. Vanguard Group Inc now owns 6,338,262 shares of the software maker’s stock valued at $276,920,000 after acquiring an additional 1,026,191 shares in the last quarter. Sylebra HK Co Ltd grew its stake in Five9 by 32.9% during the fourth quarter. Sylebra HK Co Ltd now owns 1,947,933 shares of the software maker’s stock valued at $85,164,000 after acquiring an additional 482,346 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new position in Five9 during the fourth quarter valued at approximately $21,064,000. Finally, Norges Bank purchased a new position in Five9 during the fourth quarter valued at approximately $16,204,000.

About Five9

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company offers virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales, and marketing functions; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.

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Analyst Recommendations for Five9 (NASDAQ:FIVN)

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