Five9 Inc. (FIVN) Rating Increased to Buy at Zacks Investment Research
Five9 Inc. (NASDAQ:FIVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $18.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 12.92% from the stock’s previous close.
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 analysts also recently commented on FIVN. Barclays PLC reiterated a “buy” rating on shares of Five9 in a report on Sunday, July 17th. Needham & Company LLC upped their price target on shares of Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Bank of America Corp. downgraded shares of Five9 from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 20th. Finally, Craig Hallum initiated coverage on shares of Five9 in a research note on Thursday, June 9th. They issued a “buy” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $14.56.
Five9 (NASDAQ:FIVN) traded up 0.44% during midday trading on Tuesday, reaching $15.94. 591,427 shares of the company’s stock traded hands. The company’s market cap is $837.71 million. The stock has a 50-day moving average of $14.77 and a 200 day moving average of $11.78. Five9 has a 52-week low of $3.63 and a 52-week high of $16.40.
Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. Five9 had a negative net margin of 12.36% and a negative return on equity of 65.04%. The firm had revenue of $38.90 million for the quarter, compared to the consensus estimate of $36.86 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 31.7% on a year-over-year basis. On average, analysts anticipate that Five9 will post ($0.14) earnings per share for the current fiscal year.
In other news, Director David S. Welsh sold 1,819,162 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $13.25, for a total value of $24,103,896.50. Following the completion of the transaction, the director now owns 36,721 shares of the company’s stock, valued at $486,553.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Burkland sold 16,000 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $12.12, for a total transaction of $193,920.00. Following the completion of the transaction, the chief executive officer now directly owns 953,000 shares of the company’s stock, valued at approximately $11,550,360. The disclosure for this sale can be found here. Corporate insiders own 40.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Five9 during the second quarter worth approximately $115,000. State Board of Administration of Florida Retirement System bought a new position in Five9 during the second quarter worth approximately $130,000. BlackRock Inc. boosted its position in Five9 by 721.3% in the second quarter. BlackRock Inc. now owns 11,941 shares of the company’s stock worth $142,000 after buying an additional 10,487 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in Five9 during the first quarter worth approximately $164,000. Finally, TFS Capital LLC bought a new position in Five9 during the second quarter worth approximately $174,000. 83.84% of the stock is owned by hedge funds and other institutional investors.
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. It facilitates over three billion interactions between its 2,000 clients and clients’ customers per year.
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