Five9, Inc. (FIVN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Five9, Inc. (NASDAQ:FIVN) from a hold rating to a buy rating in a report published on Monday. They currently have $28.00 price objective on the software maker’s 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 analysts have also issued reports on FIVN. Northland Securities set a $25.00 price target on Five9 and gave the company a buy rating in a report on Wednesday, July 19th. Morgan Stanley restated an equal weight rating and issued a $21.00 price objective (up from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Canaccord Genuity boosted their price objective on Five9 from $23.00 to $25.00 and gave the company a buy rating in a research report on Friday, August 4th. Needham & Company LLC restated a buy rating and issued a $26.00 price objective (up from $21.00) on shares of Five9 in a research report on Wednesday, August 9th. Finally, KeyCorp restated a buy rating and issued a $27.00 price objective on shares of Five9 in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $24.75.

Shares of Five9 (NASDAQ FIVN) opened at $25.04 on Monday. Five9 has a fifty-two week low of $12.58 and a fifty-two week high of $27.81. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.04.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Five9 had a negative return on equity of 34.14% and a negative net margin of 4.19%. The business had revenue of $50.08 million during the quarter, compared to analyst estimates of $48.20 million. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. equities analysts predict that Five9 will post -0.19 earnings per share for the current fiscal year.

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In other Five9 news, EVP Daniel P. Burkland sold 10,000 shares of the business’s stock in a transaction that occurred 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 directly owns 146,436 shares of the company’s stock, valued at $3,643,327.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Burkland sold 600,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $24.05, for a total value of $14,430,000.00. Following the sale, the chief executive officer now directly owns 1,194,161 shares in the company, valued at $28,719,572.05. The disclosure for this sale can be found here. Insiders sold 670,816 shares of company stock worth $16,007,408 over the last quarter. 9.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wolverine Trading LLC increased its stake in Five9 by 4.5% during the second quarter. Wolverine Trading LLC now owns 12,036 shares of the software maker’s stock worth $254,000 after acquiring an additional 522 shares during the last quarter. Zacks Investment Management increased its stake in Five9 by 2.7% during the second quarter. Zacks Investment Management now owns 47,057 shares of the software maker’s stock worth $1,013,000 after acquiring an additional 1,244 shares during the last quarter. American International Group Inc. increased its stake in Five9 by 7.1% during the first quarter. American International Group Inc. now owns 20,344 shares of the software maker’s stock worth $335,000 after acquiring an additional 1,349 shares during the last quarter. Virtu KCG Holdings LLC increased its stake in Five9 by 10.7% during the second quarter. Virtu KCG Holdings LLC now owns 15,886 shares of the software maker’s stock worth $342,000 after acquiring an additional 1,536 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in Five9 by 2.9% during the second quarter. Federated Investors Inc. PA now owns 62,034 shares of the software maker’s stock worth $1,335,000 after acquiring an additional 1,750 shares during the last quarter. 91.67% of the stock is currently owned by institutional investors.

Five9 Company Profile

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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