Five9, Inc. (FIVN) Given “Buy” Rating at Canaccord Genuity
Canaccord Genuity reiterated their buy rating on shares of Five9, Inc. (NASDAQ:FIVN) in a research note released on Thursday. Canaccord Genuity currently has a $28.00 price objective on the software maker’s stock.
A number of other equities analysts have also recently commented on the company. Northland Securities set a $25.00 target price on Five9 and gave the stock a buy rating in a report on Wednesday, July 19th. Morgan Stanley reiterated an equal weight rating and issued a $21.00 target price (up previously from $18.00) on shares of Five9 in a report on Thursday, July 20th. Zacks Investment Research cut Five9 from a buy rating to a hold rating in a report on Wednesday, August 30th. KeyCorp reiterated a buy rating and issued a $27.00 target price on shares of Five9 in a report on Friday, October 27th. Finally, Needham & Company LLC reiterated a buy rating and issued a $26.00 target price (up previously from $21.00) on shares of Five9 in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $24.25.
Five9 (FIVN) traded down $0.50 during midday trading on Thursday, reaching $25.32. The company’s stock had a trading volume of 214,400 shares, compared to its average volume of 473,044. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.17 and a quick ratio of 2.17. Five9 has a fifty-two week low of $12.58 and a fifty-two week high of $27.81.
Five9 (NASDAQ:FIVN) last announced its earnings results on Wednesday, November 8th. The software maker reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $50.08 million during 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%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. research analysts forecast that Five9 will post -0.19 EPS for the current fiscal year.
In other Five9 news, EVP Scott Welch sold 3,903 shares of Five9 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 completion of the sale, the executive vice president now directly owns 136,799 shares of the company’s stock, valued at approximately $2,856,363.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Barry Zwarenstein sold 13,024 shares of Five9 stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $21.25, for a total value of $276,760.00. Following the sale, the chief financial officer now directly owns 123,698 shares of the company’s stock, valued at $2,628,582.50. The disclosure for this sale can be found here. Insiders have sold a total of 74,719 shares of company stock valued at $1,658,903 over the last three months. 9.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FIVN. American International Group Inc. raised its position in Five9 by 7.1% during the 1st quarter. American International Group Inc. now owns 20,344 shares of the software maker’s stock valued at $335,000 after purchasing an additional 1,349 shares in the last quarter. FMR LLC raised its position in Five9 by 60.0% during the 1st quarter. FMR LLC now owns 800,000 shares of the software maker’s stock valued at $13,168,000 after purchasing an additional 300,000 shares in the last quarter. Teachers Advisors LLC raised its position in Five9 by 9.6% during the 1st quarter. Teachers Advisors LLC now owns 178,564 shares of the software maker’s stock valued at $2,939,000 after purchasing an additional 15,582 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Five9 by 10.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 237,889 shares of the software maker’s stock worth $3,916,000 after acquiring an additional 21,849 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Five9 by 28.2% in the 1st quarter. Vanguard Group Inc. now owns 2,626,988 shares of the software maker’s stock worth $43,240,000 after acquiring an additional 577,738 shares in the last quarter. 91.67% of the stock is owned by institutional investors and hedge funds.
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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