FY2024 Earnings Forecast for Five9, Inc. Issued By William Blair (NASDAQ:FIVN)

Five9, Inc. (NASDAQ:FIVN) – Stock analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for Five9 in a report issued on Monday, May 6th. William Blair analyst A. Bhatia now forecasts that the software maker will post earnings of ($0.19) per share for the year, up from their prior estimate of ($0.20). The consensus estimate for Five9’s current full-year earnings is ($0.42) per share.

Five9 (NASDAQ:FIVN) last announced its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. The firm had revenue of $239.06 million for the quarter, compared to the consensus estimate of $237.64 million.

A number of other research firms also recently commented on FIVN. Morgan Stanley dropped their price target on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Canaccord Genuity Group cut their target price on Five9 from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Five9 in a research report on Friday, May 3rd. Royal Bank of Canada assumed coverage on Five9 in a report on Friday, March 15th. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, UBS Group lowered their target price on Five9 from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and an average price target of $84.88.

Five9 Price Performance

Shares of NASDAQ FIVN opened at $54.32 on Thursday. The stock has a market cap of $4.01 billion, a P/E ratio of -63.91 and a beta of 0.85. The firm’s 50-day simple moving average is $59.61 and its 200 day simple moving average is $68.36. Five9 has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its holdings in Five9 by 84.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after acquiring an additional 383,002 shares in the last quarter. Vanguard Group Inc. lifted its position in Five9 by 3.2% in the third quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock worth $465,291,000 after purchasing an additional 227,183 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Five9 by 966.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock valued at $22,411,000 after buying an additional 315,867 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Five9 by 11.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock worth $52,701,000 after acquiring an additional 81,744 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Five9 by 7.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock valued at $30,078,000 after acquiring an additional 25,075 shares in the last quarter. 96.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 7,340 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total transaction of $420,435.20. Following the transaction, the chief operating officer now owns 129,559 shares of the company’s stock, valued at approximately $7,421,139.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally. It offers a 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.