Five9 Inc. (FIVN) Receives Consensus Rating of “Buy” from Brokerages
Shares of Five9 Inc. (NASDAQ:FIVN) have received an average recommendation of “Buy” from the nine analysts that are covering the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.17.
FIVN has been the subject of several analyst reports. Bank of America Corp. cut shares of Five9 from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 20th. Barclays PLC upped their price objective on shares of Five9 from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, July 15th. Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, October 4th. Finally, Needham & Company LLC upped their price objective on shares of Five9 from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th.
In other Five9 news, CFO Barry Zwarenstein sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $15.67, for a total transaction of $125,360.00. Following the sale, the chief financial officer now directly owns 422,508 shares of the company’s stock, valued at approximately $6,620,700.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Adams Street Partners Llc sold 1,813,043 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $13.25, for a total transaction of $24,022,819.75. The disclosure for this sale can be found here. Company insiders own 40.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its stake in Five9 by 211.2% in the second quarter. Lord Abbett & CO. LLC now owns 2,048,284 shares of the company’s stock worth $24,375,000 after buying an additional 1,390,071 shares in the last quarter. Polar Capital LLP purchased a new stake in Five9 during the second quarter worth approximately $14,496,000. Allianz Asset Management AG raised its stake in Five9 by 300.1% in the second quarter. Allianz Asset Management AG now owns 1,576,487 shares of the company’s stock worth $18,760,000 after buying an additional 1,182,481 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Five9 by 246.5% in the second quarter. JPMorgan Chase & Co. now owns 983,339 shares of the company’s stock worth $11,702,000 after buying an additional 699,539 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in Five9 during the second quarter worth approximately $4,268,000. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
Five9 (NASDAQ:FIVN) traded down 1.89% during midday trading on Tuesday, reaching $15.03. 90,466 shares of the company’s stock traded hands. The firm’s market cap is $789.89 million. Five9 has a 1-year low of $3.63 and a 1-year high of $16.40. The stock’s 50 day moving average price is $14.94 and its 200 day moving average price is $11.97.
Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company earned $38.90 million during the quarter, compared to analysts’ expectations of $36.86 million. Five9 had a negative net margin of 12.36% and a negative return on equity of 65.04%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) EPS. Equities research analysts anticipate that Five9 will post ($0.14) EPS for the current year.
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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