Five9 (NASDAQ:FIVN) Updates FY 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.150-2.190 for the period, compared to the consensus earnings per share estimate of 2.160. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Five9 also updated its Q2 2024 guidance to 0.420-0.440 EPS.

Five9 Price Performance

Five9 stock traded down $2.19 on Monday, reaching $55.69. The company’s stock had a trading volume of 1,661,787 shares, compared to its average volume of 1,319,664. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -65.52 and a beta of 0.85. The business’s fifty day moving average price is $59.98 and its 200 day moving average price is $68.53. Five9 has a twelve month low of $51.01 and a twelve month high of $92.40.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. The business had revenue of $239.06 million for the quarter, compared to analyst estimates of $237.64 million. Equities analysts expect that Five9 will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FIVN. Morgan Stanley cut their price target on Five9 from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada assumed coverage on Five9 in a research note on Friday, March 15th. They set an outperform rating and a $80.00 price target on the stock. Piper Sandler increased their target price on Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research note on Friday, January 12th. Barclays cut their target price on Five9 from $105.00 to $95.00 and set an overweight rating on the stock in a research note on Thursday, February 22nd. Finally, Rosenblatt Securities reissued a buy rating and issued a $80.00 target price on shares of Five9 in a research note on Friday. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $84.88.

Insider Activity at Five9

In related news, COO Andy Dignan sold 7,340 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total transaction of $420,435.20. Following the completion of the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.