Five9 Inc. (FIVN) Sees Strong Trading Volume
Five9 Inc. (NASDAQ:FIVN) shares saw unusually-high trading volume on Monday . Approximately 436,501 shares changed hands during trading, a decline of 13% from the previous session’s volume of 500,919 shares.The stock last traded at $14.07 and had previously closed at $14.09.
FIVN has been the topic of several analyst reports. Needham & Company LLC increased their price target on Five9 from $11.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Barclays PLC reiterated a “buy” rating on shares of Five9 in a report on Sunday, July 17th. Craig Hallum initiated coverage on Five9 in a report on Thursday, June 9th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Bank of America Corp. reiterated a “hold” rating and set a $11.50 price target on shares of Five9 in a report on Wednesday, May 11th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.44.
The company’s market cap is $746.27 million. The stock has a 50 day moving average of $12.74 and a 200 day moving average of $10.17.
Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. During the same quarter last year, the firm earned ($0.10) EPS. The business had revenue of $38.90 million for the quarter, compared to the consensus estimate of $36.86 million. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. Analysts expect that Five9 Inc. 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 the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $13.25, for a total value of $24,022,819.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael J. Crane sold 2,362 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $11.69, for a total value of $27,611.78. Following the completion of the sale, the executive vice president now owns 95,636 shares in the company, valued at approximately $1,117,984.84. The disclosure for this sale can be found here.
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.