Five9 (FIVN) Cut to Hold at Zacks Investment Research

Five9 (NASDAQ:FIVN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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 research firms have also recently commented on FIVN. KeyCorp reiterated a “buy” rating and issued a $27.00 price objective on shares of Five9 in a report on Friday, October 27th. Northland Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Five9 in a report on Wednesday, October 4th. Canaccord Genuity upped their price objective on Five9 from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, September 27th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Five9 in a report on Friday, November 10th. Finally, ValuEngine upgraded Five9 from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Five9 currently has an average rating of “Buy” and a consensus price target of $26.50.

Shares of Five9 (FIVN) traded down $0.11 during trading on Tuesday, hitting $23.00. The stock had a trading volume of 231,100 shares, compared to its average volume of 448,114. The firm has a market cap of $1,280.00, a PE ratio of -153.33 and a beta of 0.27. Five9 has a fifty-two week low of $15.27 and a fifty-two week high of $27.81. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.04.

Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, November 8th. The software maker reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The business had revenue of $50.08 million for the quarter, compared to analysts’ expectations of $48.20 million. Five9 had a negative return on equity of 34.14% and a negative net margin of 4.19%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. research analysts forecast that Five9 will post -0.18 earnings per share for the current fiscal year.

In other news, EVP Daniel P. Burkland sold 10,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $24.88, for a total transaction of $248,800.00. Following the sale, the executive vice president now owns 146,436 shares of the company’s stock, valued at $3,643,327.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barry Zwarenstein sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $24.52, for a total value of $122,600.00. Following the sale, the chief executive officer now directly owns 141,778 shares in the company, valued at approximately $3,476,396.56. The disclosure for this sale can be found here. In the last three months, insiders sold 846,877 shares of company stock worth $20,492,200. 9.10% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Five9 by 25.5% during the second quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock worth $70,972,000 after acquiring an additional 670,939 shares during the period. Renaissance Technologies LLC increased its position in shares of Five9 by 6.7% during the second quarter. Renaissance Technologies LLC now owns 2,113,600 shares of the software maker’s stock worth $45,485,000 after acquiring an additional 132,100 shares during the period. Wells Fargo & Company MN increased its position in shares of Five9 by 31.4% during the third quarter. Wells Fargo & Company MN now owns 1,531,252 shares of the software maker’s stock worth $36,598,000 after acquiring an additional 366,166 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Five9 during the second quarter worth $21,296,000. Finally, FMR LLC grew its stake in shares of Five9 by 19.6% during the second quarter. FMR LLC now owns 956,737 shares of the software maker’s stock worth $20,589,000 after purchasing an additional 156,737 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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About Five9

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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