Five9 (NASDAQ:FIVN) Sets New 12-Month Low – Here’s Why

Five9, Inc. (NASDAQ:FIVN) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $17.88 and last traded at $17.9150, with a volume of 815693 shares trading hands. The stock had previously closed at $18.28.

Wall Street Analysts Forecast Growth

FIVN has been the subject of several research reports. Piper Sandler dropped their price objective on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 target price on shares of Five9 in a research report on Friday, August 1st. Wells Fargo & Company cut their price target on Five9 from $28.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Barclays decreased their price objective on Five9 from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Finally, DA Davidson reissued a “neutral” rating and issued a $28.00 target price on shares of Five9 in a report on Friday, September 12th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Five9 currently has an average rating of “Moderate Buy” and an average price target of $35.19.

Five9 Stock Performance

The firm has a market capitalization of $1.41 billion, a P/E ratio of 200.19, a P/E/G ratio of 2.20 and a beta of 1.27. The firm has a 50-day moving average price of $23.06 and a two-hundred day moving average price of $25.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 4.44 and a quick ratio of 4.44.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. The firm had revenue of $283.27 million during the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%. On average, analysts forecast that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Five9 announced that its board has approved a share buyback plan on Tuesday, November 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the software maker to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Five9 news, CEO Michael Burkland sold 18,425 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $473,891.00. Following the transaction, the chief executive officer directly owned 367,562 shares of the company’s stock, valued at $9,453,694.64. This trade represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tiffany N. Meriweather sold 7,861 shares of Five9 stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.72, for a total transaction of $202,184.92. Following the completion of the transaction, the insider owned 218,978 shares in the company, valued at approximately $5,632,114.16. This trade represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 53,738 shares of company stock valued at $1,380,677. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Five9

Several large investors have recently modified their holdings of FIVN. Voss Capital LP grew its holdings in shares of Five9 by 211.4% in the 2nd quarter. Voss Capital LP now owns 3,250,000 shares of the software maker’s stock valued at $86,060,000 after buying an additional 2,206,173 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Five9 by 292.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker’s stock valued at $72,745,000 after buying an additional 1,996,628 shares during the last quarter. Norges Bank bought a new stake in Five9 during the second quarter worth about $39,056,000. Federated Hermes Inc. boosted its holdings in shares of Five9 by 124,372.3% in the 2nd quarter. Federated Hermes Inc. now owns 830,230 shares of the software maker’s stock valued at $21,984,000 after buying an additional 829,563 shares during the last quarter. Finally, Anson Funds Management LP lifted its stake in Five9 by 98.5% in the third quarter. Anson Funds Management LP now owns 1,534,272 shares of the software maker’s stock valued at $37,129,000 after acquiring an additional 761,486 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, and internationally. It offers a 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.