Zacks Investment Research upgraded shares of Five9 Inc. (NASDAQ:FIVN) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $18.00 target price on the stock.
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 research analysts have also issued reports on the stock. Craig Hallum started coverage on shares of Five9 in a research note on Thursday, June 9th. They issued a buy rating and a $16.00 target price on the stock. Bank of America Corp. lowered shares of Five9 from a neutral rating to an underperform rating in a research note on Tuesday, September 20th. Barclays PLC raised their target price on shares of Five9 from $11.00 to $14.00 and gave the company an overweight rating in a research note on Friday, July 15th. Finally, Needham & Company LLC raised their target price 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. One investment 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’s stock. Five9 currently has a consensus rating of Buy and an average price target of $14.56.
Five9 (NASDAQ:FIVN) traded down 0.59% on Tuesday, reaching $15.18. 4,029 shares of the company’s stock traded hands. Five9 has a 52-week low of $3.63 and a 52-week high of $16.40. The stock’s market capitalization is $797.77 million. The firm’s 50-day moving average is $14.86 and its 200 day moving average is $11.83.
Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm 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 company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. Analysts forecast that Five9 will post ($0.14) EPS for the current year.
In other Five9 news, major shareholder Adams Street Partners Llc sold 1,813,043 shares of Five9 stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $13.25, for a total value of $24,022,819.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Burkland sold 16,000 shares of Five9 stock in a transaction that occurred on Friday, July 15th. The shares were 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 in the company, 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.
A number of hedge funds and other institutional investors have recently made changes to their positions in FIVN. Lord Abbett & CO. LLC raised its position in shares of 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 during the last quarter. Allianz Asset Management AG raised its position in shares of 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Five9 by 24.6% in the second quarter. Vanguard Group Inc. now owns 1,325,197 shares of the company’s stock worth $15,769,000 after buying an additional 261,298 shares during the last quarter. Polar Capital LLP bought a new position in shares of Five9 during the second quarter worth $14,496,000. Finally, JPMorgan Chase & Co. raised its position in shares of 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 during the last quarter. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
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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