Zacks Investment Research upgraded shares of Five9 Inc. (NASDAQ:FIVN) from a hold rating to a buy rating in a research report report published on Tuesday morning. The brokerage currently has $18.00 price target 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 equities research analysts have also weighed in on the company. Bank of America Corp. lowered Five9 from a neutral rating to an underperform rating in a research note on Tuesday, September 20th. Barclays PLC increased their target price on Five9 from $14.00 to $15.00 and gave the company an overweight rating in a report on Thursday, August 4th. Needham & Company LLC increased their target price on Five9 from $11.00 to $15.00 and gave the company a buy rating in a report on Thursday, August 4th. Finally, Craig Hallum started coverage on Five9 in a report on Thursday, June 9th. They issued a buy rating and a $16.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Five9 has a consensus rating of Buy and an average target price of $14.56.
Shares of Five9 (NASDAQ:FIVN) opened at 15.94 on Tuesday. The stock’s market cap is $837.71 million. The stock has a 50 day moving average price of $14.77 and a 200 day moving average price of $11.78. Five9 has a 12 month low of $3.63 and a 12 month high of $16.40.
Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business earned $38.90 million during the quarter, compared to analyst estimates of $36.86 million. Five9 had a negative return on equity of 65.04% and a negative net margin of 12.36%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company posted ($0.10) EPS. Equities analysts anticipate that Five9 will post ($0.14) EPS for the current fiscal year.
In related news, major shareholder Adams Street Partners Llc sold 1,813,043 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $13.25, for a total transaction of $24,022,819.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel P. Burkland sold 2,626 shares of the stock in a transaction 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 owns 121,893 shares of the company’s stock, valued at $1,919,814.75. The disclosure for this sale can be found here. Corporate insiders own 40.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. purchased a new stake in shares of Five9 during the second quarter valued at about $1,510,000. Royal Bank of Canada raised its position in Five9 by 252.9% in the second quarter. Royal Bank of Canada now owns 24,700 shares of the company’s stock valued at $294,000 after buying an additional 17,700 shares during the period. Schwab Charles Investment Management Inc. raised its position in Five9 by 28.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 86,610 shares of the company’s stock valued at $1,031,000 after buying an additional 18,976 shares during the period. American Century Companies Inc. bought a new position in Five9 during the second quarter valued at $589,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Five9 by 33.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 24,628 shares of the company’s stock valued at $293,000 after buying an additional 6,197 shares during the period. Institutional investors and hedge funds own 83.84% of the company’s stock.
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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