Five9 Inc. (FIVN) Stock Price Down 1.1%
Five9 Inc. (NASDAQ:FIVN) was down 1.1% during mid-day trading on Monday . The company traded as low as $14.33 and last traded at $14.38, with a volume of 74,718 shares trading hands. The stock had previously closed at $14.54.
A number of equities research analysts recently issued reports on FIVN shares. Barclays PLC decreased their price target on shares of Five9 from $11.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 1st. 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. Needham & Company LLC increased 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. Finally, Bank of America Corp. downgraded shares of Five9 from a “neutral” rating to an “underperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Five9 has an average rating of “Buy” and an average target price of $13.44.
The company has a 50-day moving average of $14.21 and a 200-day moving average of $11.25. The company’s market cap is $744.16 million.
Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. Five9 had a negative net margin of 12.36% and a negative return on equity of 65.04%. The firm had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $36.86 million. During the same quarter last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, analysts forecast that Five9 Inc. will post ($0.14) earnings per share for the current fiscal year.
In other Five9 news, EVP Scott Welch sold 7,804 shares of Five9 stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $13.62, for a total transaction of $106,290.48. Following the sale, the executive vice president now owns 200,810 shares of the company’s stock, valued at approximately $2,735,032.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Burkland sold 24,000 shares of Five9 stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $14.40, for a total transaction of $345,600.00. Following the sale, the chief executive officer now directly owns 953,000 shares in the company, valued at approximately $13,723,200. The disclosure for this sale can be found here. 40.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its stake 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 valued at $24,375,000 after buying an additional 1,390,071 shares during the period. Allianz Asset Management AG boosted its stake 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 valued at $18,760,000 after buying an additional 1,182,481 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $15,769,000 after buying an additional 261,298 shares during the period. Polar Capital LLP acquired a new stake in shares of Five9 during the second quarter valued at about $14,496,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Five9 by 246.5% in the second quarter. JPMorgan Chase & Co. now owns 983,339 shares of the company’s stock valued at $11,702,000 after buying an additional 699,539 shares during the period. 83.84% of the stock is currently owned by 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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