Five9 (FIVN) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Five9 (NASDAQ:FIVN) from a buy rating to a hold rating in a report issued on Monday morning.

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. “

A number of other analysts have also recently commented on the stock. Bank of America lifted their target price on shares of Five9 from $21.00 to $25.00 and gave the stock an underperform rating in a research note on Tuesday, August 7th. BidaskClub cut shares of Five9 from a buy rating to a hold rating in a research note on Wednesday, August 1st. Needham & Company LLC lifted their target price on shares of Five9 from $38.00 to $45.00 and gave the stock a buy rating in a research note on Tuesday, August 7th. Northland Securities reiterated a buy rating and issued a $48.00 target price on shares of Five9 in a research note on Tuesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Five9 to $46.00 and gave the stock an overweight rating in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Five9 has a consensus rating of Buy and a consensus price target of $39.36.

NASDAQ:FIVN opened at $39.94 on Monday. Five9 has a fifty-two week low of $22.51 and a fifty-two week high of $49.50. The stock has a market capitalization of $2.55 billion, a PE ratio of -234.94 and a beta of 0.40. The company has a current ratio of 6.96, a quick ratio of 6.96 and a debt-to-equity ratio of 1.66.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Monday, August 6th. The software maker reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $61.12 million for the quarter, compared to analysts’ expectations of $56.42 million. Five9 had a negative net margin of 1.04% and a negative return on equity of 3.56%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities research analysts forecast that Five9 will post -0.06 EPS for the current year.

In other Five9 news, President Daniel P. Burkland sold 5,584 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $47.36, for a total transaction of $264,458.24. Following the completion of the transaction, the president now directly owns 155,091 shares of the company’s stock, valued at approximately $7,345,109.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Barry Zwarenstein sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $44.79, for a total transaction of $447,900.00. Following the transaction, the chief financial officer now directly owns 121,714 shares of the company’s stock, valued at $5,451,570.06. The disclosure for this sale can be found here. Insiders sold a total of 91,323 shares of company stock valued at $4,046,461 over the last quarter. 5.10% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FIVN. Alkeon Capital Management LLC purchased a new position in Five9 during the 1st quarter worth approximately $22,938,000. Sylebra HK Co Ltd purchased a new position in Five9 during the 2nd quarter worth approximately $24,364,000. Hood River Capital Management LLC purchased a new position in Five9 during the 2nd quarter worth approximately $19,594,000. BlackRock Inc. raised its position in Five9 by 11.1% during the 2nd quarter. BlackRock Inc. now owns 4,072,663 shares of the software maker’s stock worth $140,794,000 after buying an additional 406,173 shares during the last quarter. Finally, Eventide Asset Management LLC raised its position in Five9 by 55.2% during the 1st quarter. Eventide Asset Management LLC now owns 894,000 shares of the software maker’s stock worth $26,632,000 after buying an additional 318,000 shares during the last quarter. 96.28% of the stock is owned by institutional investors.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers virtual contact center cloud platform that delivers a suite of applications which enables the breadth of contact center-related customer service, sales, and marketing functions; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.

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