Five9, Inc. (FIVN) Expected to Announce Quarterly Sales of $48.29 Million
Wall Street brokerages forecast that Five9, Inc. (NASDAQ:FIVN) will report $48.29 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Five9’s earnings, with the highest sales estimate coming in at $48.77 million and the lowest estimate coming in at $47.95 million. Five9 reported sales of $40.98 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.8%. The company is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Five9 will report full-year sales of $48.29 million for the current fiscal year, with estimates ranging from $194.41 million to $196.12 million. For the next year, analysts expect that the business will post sales of $229.52 million per share, with estimates ranging from $219.50 million to $235.34 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Five9.
FIVN has been the topic of a number of research analyst reports. Canaccord Genuity reissued a “buy” rating and set a $20.00 price objective on shares of Five9 in a report on Monday, May 1st. Pacific Crest reissued a “buy” rating and set a $22.00 price objective on shares of Five9 in a report on Thursday, May 4th. Zacks Investment Research raised shares of Five9 from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Monday, May 8th. BidaskClub lowered shares of Five9 from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Northland Securities set a $25.00 price objective on shares of Five9 and gave the stock a “buy” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.29.
In related news, CEO Michael Burkland sold 12,484 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $21.00, for a total value of $262,164.00. Following the sale, the chief executive officer now directly owns 976,091 shares in the company, valued at approximately $20,497,911. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 12,023 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $21.81, for a total transaction of $262,221.63. The disclosure for this sale can be found here. Insiders sold a total of 253,773 shares of company stock worth $5,531,835 in the last ninety days. Insiders own 9.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in shares of Five9 by 4,389.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,567 shares of the software maker’s stock worth $120,000 after buying an additional 5,443 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Five9 during the first quarter worth $174,000. Principal Financial Group Inc. purchased a new stake in shares of Five9 during the second quarter worth $219,000. potrero capital research llc purchased a new stake in shares of Five9 during the first quarter worth $227,000. Finally, KCG Holdings Inc. purchased a new stake in shares of Five9 during the first quarter worth $236,000. Institutional investors and hedge funds own 92.81% of the company’s stock.
Shares of Five9 (NASDAQ FIVN) opened at 20.50 on Friday. Five9 has a 52-week low of $12.58 and a 52-week high of $24.80. The firm’s 50 day moving average is $21.89 and its 200-day moving average is $19.39. The company’s market capitalization is $1.13 billion.
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. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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