Five9 (NASDAQ:FIVN) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Thursday, Zacks.com reports.
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 research analysts have also recently issued reports on FIVN. Canaccord Genuity lifted their target price on Five9 from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday. BTIG Research lifted their target price on Five9 from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, January 19th. Rosenblatt Securities lifted their target price on Five9 from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Tuesday. Wells Fargo & Company lifted their price target on Five9 from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Northland Securities lifted their price target on Five9 from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Five9 currently has an average rating of "Buy" and a consensus target price of $188.29.
Shares of FIVN stock traded down $0.57 during trading hours on Thursday, hitting $181.20. The stock had a trading volume of 1,240,932 shares, compared to its average volume of 776,230. Five9 has a one year low of $52.51 and a one year high of $194.04. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.32 and a quick ratio of 9.32. The stock's 50-day moving average price is $174.75 and its two-hundred day moving average price is $150.72. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of -341.88 and a beta of 0.53.
Five9 (NASDAQ:FIVN) last issued its earnings results on Sunday, February 21st. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.23 by $0.11. Five9 had a positive return on equity of 0.40% and a negative net margin of 8.54%. The firm had revenue of $127.89 million for the quarter, compared to analysts' expectations of $115.27 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business's revenue was up 38.6% compared to the same quarter last year. As a group, equities research analysts predict that Five9 will post -0.09 earnings per share for the current fiscal year.
In other Five9 news, CEO Rowan M. Trollope sold 23,221 shares of the business's stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $151.58, for a total transaction of $3,519,839.18. Following the completion of the transaction, the chief executive officer now owns 252,017 shares in the company, valued at $38,200,736.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Barry Zwarenstein sold 3,766 shares of the business's stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $151.63, for a total value of $571,038.58. Following the transaction, the chief financial officer now owns 104,371 shares of the company's stock, valued at approximately $15,825,774.73. The disclosure for this sale can be found here. Insiders have sold 86,208 shares of company stock valued at $13,999,208 in the last 90 days. Company insiders own 3.00% of the company's stock.
Several institutional investors have recently bought and sold shares of FIVN. First Trust Advisors LP raised its stake in shares of Five9 by 33.4% during the third quarter. First Trust Advisors LP now owns 1,208,542 shares of the software maker's stock valued at $156,724,000 after acquiring an additional 302,664 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Five9 by 22.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,554,139 shares of the software maker's stock valued at $201,541,000 after acquiring an additional 287,238 shares in the last quarter. FIL Ltd raised its stake in shares of Five9 by 19,083.1% during the fourth quarter. FIL Ltd now owns 272,017 shares of the software maker's stock valued at $47,440,000 after acquiring an additional 270,599 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Five9 during the third quarter valued at approximately $33,081,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Five9 during the fourth quarter valued at approximately $40,108,000. 97.93% of the stock is owned by hedge funds and other institutional investors.
Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company offers 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; and acts as a hub for digital engagement channels between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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