Five9 (NASDAQ:FIVN) Shares Gap Up on Strong Earnings

Five9, Inc. (NASDAQ:FIVN - Get Free Report) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.08, but opened at $27.00. Five9 shares last traded at $25.14, with a volume of 1,101,834 shares trading hands.

The software maker reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The firm had revenue of $279.71 million during the quarter, compared to the consensus estimate of $272.26 million. During the same quarter last year, the firm earned $0.48 earnings per share. The firm's revenue was up 13.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms have commented on FIVN. Piper Sandler raised their target price on Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Barclays reduced their price objective on Five9 from $60.00 to $33.00 and set an "overweight" rating for the company in a report on Monday. Cantor Fitzgerald reissued an "overweight" rating on shares of Five9 in a report on Wednesday, April 2nd. Wells Fargo & Company cut their price target on Five9 from $45.00 to $23.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Five9 from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Five9 presently has an average rating of "Moderate Buy" and an average target price of $43.58.

Insider Buying and Selling at Five9

In other news, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the transaction, the executive vice president now directly owns 126,359 shares of the company's stock, valued at $4,220,390.60. The trade was a 5.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Burkland sold 12,595 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $35.63, for a total value of $448,759.85. Following the sale, the chief executive officer now owns 404,056 shares of the company's stock, valued at $14,396,515.28. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,574 shares of company stock worth $1,004,346 in the last quarter. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of Five9 by 10.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker's stock valued at $156,000 after acquiring an additional 365 shares during the period. Xponance Inc. raised its position in Five9 by 4.4% in the first quarter. Xponance Inc. now owns 9,835 shares of the software maker's stock valued at $267,000 after purchasing an additional 414 shares during the period. Arizona State Retirement System lifted its stake in shares of Five9 by 2.0% during the fourth quarter. Arizona State Retirement System now owns 21,694 shares of the software maker's stock worth $882,000 after purchasing an additional 424 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Five9 by 155.7% during the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker's stock worth $35,000 after purchasing an additional 520 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Five9 by 1.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,607 shares of the software maker's stock worth $1,325,000 after buying an additional 590 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Trading Up 1.7 %

The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -126.19, a price-to-earnings-growth ratio of 9.41 and a beta of 1.23. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average price of $27.45 and a 200-day moving average price of $34.91.

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.