Five9 (NASDAQ:FIVN) Lowered to Hold at Zacks Investment Research

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

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. ValuEngine cut Five9 from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Needham & Company LLC lifted their price objective on Five9 from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Canaccord Genuity lifted their price objective on Five9 from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp reiterated a “sector weight” rating and set a $71.15 price objective on shares of Five9 in a research report on Monday, January 13th. Finally, Bank of America lifted their price objective on Five9 from $43.00 to $51.00 and gave the stock an “underperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Five9 currently has an average rating of “Buy” and a consensus target price of $80.74.

Five9 stock traded down $1.87 during midday trading on Friday, reaching $73.25. 648,326 shares of the company were exchanged, compared to its average volume of 666,856. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of -915.63, a P/E/G ratio of 85.14 and a beta of 0.60. The firm’s 50-day simple moving average is $72.75 and its 200-day simple moving average is $63.84. Five9 has a 1 year low of $46.08 and a 1 year high of $80.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 6.09 and a current ratio of 6.09.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, February 19th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.23. The firm had revenue of $92.26 million during the quarter, compared to analysts’ expectations of $86.71 million. Five9 had a positive return on equity of 6.48% and a negative net margin of 1.39%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. On average, analysts forecast that Five9 will post 0.09 EPS for the current fiscal year.

In other Five9 news, CEO Rowan M. Trollope sold 12,600 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $73.79, for a total value of $929,754.00. Following the sale, the chief executive officer now directly owns 321,595 shares of the company’s stock, valued at approximately $23,730,495.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Barry Zwarenstein sold 4,398 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $67.25, for a total value of $295,765.50. Following the completion of the sale, the chief financial officer now directly owns 103,994 shares in the company, valued at $6,993,596.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,418 shares of company stock worth $16,275,896. 4.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of FIVN. Millennium Management LLC boosted its stake in Five9 by 126.4% in the 3rd quarter. Millennium Management LLC now owns 268,441 shares of the software maker’s stock worth $14,426,000 after buying an additional 1,287,141 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Five9 by 155.2% in the 4th quarter. First Trust Advisors LP now owns 799,697 shares of the software maker’s stock valued at $52,444,000 after purchasing an additional 486,340 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Five9 by 46.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,284,728 shares of the software maker’s stock valued at $84,252,000 after purchasing an additional 404,527 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Five9 by 49.2% in the 3rd quarter. Voya Investment Management LLC now owns 1,009,543 shares of the software maker’s stock valued at $54,253,000 after purchasing an additional 332,721 shares in the last quarter. Finally, Eventide Asset Management LLC lifted its stake in shares of Five9 by 25.0% in the 3rd quarter. Eventide Asset Management LLC now owns 1,250,000 shares of the software maker’s stock valued at $67,175,000 after purchasing an additional 250,000 shares in the last quarter.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company 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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