Bank of America Corp. Downgrades Five9 Inc. (FIVN) to Underperform
Five9 Inc. (NASDAQ:FIVN) was downgraded by research analysts at Bank of America Corp. from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday.
Several other research analysts have also recently issued reports on the company. Barclays PLC raised their price objective on Five9 from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, August 4th. Needham & Company LLC raised their price objective on Five9 from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Craig Hallum initiated coverage on Five9 in a research note on Thursday, June 9th. They issued a “buy” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $13.44.
Shares of Five9 (NASDAQ:FIVN) opened at 14.46 on Tuesday. The stock’s market capitalization is $759.93 million. The stock’s 50 day moving average price is $14.26 and its 200 day moving average price is $11.27. Five9 has a one year low of $3.48 and a one year high of $16.23.
Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. Five9 had a negative return on equity of 65.04% and a negative net margin of 12.36%. The firm earned $38.90 million during the quarter, compared to analysts’ expectations of $36.86 million. During the same period last year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities research analysts predict that Five9 will post ($0.14) EPS for the current fiscal year.
In other Five9 news, insider Daniel P. Burkland sold 2,626 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $15.75, for a total value of $41,359.50. Following the sale, the insider now directly owns 121,893 shares of the company’s stock, valued at $1,919,814.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $11.82, for a total value of $94,560.00. Following the completion of the sale, the chief financial officer now directly owns 422,508 shares in the company, valued at $4,994,044.56. The disclosure for this sale can be found here. 40.20% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of FIVN. Gagnon Advisors LLC acquired a new stake in shares of Five9 during the first quarter valued at approximately $1,634,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Five9 during the second quarter valued at approximately $115,000. Emerald Acquisition Ltd. acquired a new stake in shares of Five9 during the second quarter valued at approximately $4,268,000. Geode Capital Management LLC raised its stake in shares of Five9 by 17.8% in the first quarter. Geode Capital Management LLC now owns 215,839 shares of the company’s stock valued at $1,917,000 after buying an additional 32,668 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Five9 during the first quarter valued at approximately $189,000. 83.84% of the stock is currently owned by institutional investors.
Five9 Company Profile
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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