Five9, Inc. (FIVN) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Five9, Inc. (NASDAQ:FIVN) from a hold rating to a buy rating in a research note issued to investors on Monday. They currently have $28.00 price target on the software maker’s stock.
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 equities research analysts have also recently issued reports on the stock. Northland Securities set a $25.00 target price on shares of Five9 and gave the stock a buy rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed 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. Canaccord Genuity lifted their target price on shares of Five9 from $25.00 to $26.00 and gave the stock a buy rating in a research note on Wednesday, September 27th. KeyCorp reaffirmed a buy rating and set a $27.00 target price on shares of Five9 in a research note on Friday, October 27th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $30.00 target price on shares of Five9 in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $24.75.
Shares of Five9 (FIVN) traded up $0.05 on Monday, reaching $25.37. 380,600 shares of the company’s stock traded hands, compared to its average volume of 472,621. Five9 has a 52 week low of $12.58 and a 52 week high of $27.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.17 and a current ratio of 2.17.
Five9 (NASDAQ:FIVN) last announced its earnings results on Wednesday, November 8th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. Five9 had a negative net margin of 4.19% and a negative return on equity of 34.14%. The company had revenue of $50.08 million for the quarter, compared to analysts’ expectations of $48.20 million. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. analysts forecast that Five9 will post -0.19 earnings per share for the current fiscal year.
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In other 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 transaction, the executive vice president now owns 136,799 shares in the company, valued at approximately $2,856,363.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel P. Burkland sold 10,000 shares of Five9 stock in a transaction on Friday, October 20th. The stock was sold at an average price of $24.88, for a total value of $248,800.00. Following the transaction, the executive vice president now owns 146,436 shares in the company, valued at approximately $3,643,327.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,719 shares of company stock worth $1,658,903. Insiders own 9.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Five9 by 25.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock valued at $70,972,000 after buying an additional 670,939 shares during the period. Renaissance Technologies LLC raised its holdings in Five9 by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,113,600 shares of the software maker’s stock valued at $45,485,000 after buying an additional 132,100 shares during the period. Russell Investments Group Ltd. raised its holdings in Five9 by 69.4% in the 2nd 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. Wells Fargo & Company MN raised its holdings in Five9 by 31.4% in the 3rd quarter. Wells Fargo & Company MN now owns 1,531,252 shares of the software maker’s stock valued at $36,598,000 after buying an additional 366,166 shares during the period. Finally, Whale Rock Capital Management LLC purchased a new stake in Five9 in the 2nd quarter valued at about $21,296,000. Hedge funds and other institutional investors own 91.67% of the company’s stock.
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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