Five9 (NASDAQ:FIVN) Issues FY 2024 Earnings Guidance

Five9 (NASDAQ:FIVN - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.150-2.190 for the period, compared to the consensus 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.

Analyst Ratings Changes

A number of analysts have recently commented on FIVN shares. UBS Group cut their price target on Five9 from $90.00 to $81.00 and set a buy rating on the stock in a report on Friday. Canaccord Genuity Group reduced their target price on shares of Five9 from $90.00 to $75.00 and set a buy rating for the company in a report on Monday, April 22nd. Morgan Stanley decreased their target price on shares of Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. KeyCorp dropped their price objective on Five9 from $93.00 to $86.00 and set an overweight rating on the stock in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada assumed coverage on shares of Five9 in a research note on Friday, March 15th. They set an outperform rating and a $80.00 price objective on the stock. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Five9 has a consensus rating of Moderate Buy and a consensus price target of $84.88.

Five9 Price Performance

FIVN stock traded up $1.15 during midday trading on Friday, reaching $57.88. 3,913,043 shares of the stock were exchanged, compared to its average volume of 1,315,554. Five9 has a 52 week low of $51.01 and a 52 week high of $92.40. The company has a fifty day moving average price of $60.10 and a 200 day moving average price of $68.50. The company has a debt-to-equity ratio of 1.38, a current ratio of 5.53 and a quick ratio of 5.53. The stock has a market capitalization of $4.27 billion, a PE ratio of -51.22 and a beta of 0.85.

Five9 (NASDAQ:FIVN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.14. The company had revenue of $239.06 million for the quarter, compared to analysts' expectations of $237.64 million. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. As a group, analysts expect that Five9 will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Five9 news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the sale, the chief operating officer now directly owns 129,559 shares in the company, valued at $7,421,139.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.