Five9 (NASDAQ:FIVN – Get Rating) updated its fourth quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.40-$0.42 for the period, compared to the consensus estimate of $0.51. The company issued revenue guidance of $204.00 million-$205.00 million, compared to the consensus revenue estimate of $215.73 million. Five9 also updated its FY 2022 guidance to $1.35-$1.37 EPS.
Analyst Ratings Changes
A number of research firms have recently issued reports on FIVN. MKM Partners cut their price objective on Five9 from $135.00 to $110.00 in a research report on Wednesday, October 26th. Truist Financial cut their price objective on Five9 from $150.00 to $90.00 and set a buy rating for the company in a research report on Monday, October 17th. StockNews.com started coverage on Five9 in a report on Wednesday, October 12th. They set a sell rating for the company. Credit Suisse Group dropped their price target on Five9 to $70.00 in a report on Thursday, October 13th. Finally, Piper Sandler dropped their price target on Five9 to $77.00 in a report on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Five9 presently has a consensus rating of Moderate Buy and a consensus price target of $120.80.
Five9 Price Performance
Shares of FIVN traded down $2.70 during midday trading on Monday, hitting $47.00. The company’s stock had a trading volume of 3,772,002 shares, compared to its average volume of 1,195,936. Five9 has a one year low of $46.61 and a one year high of $168.56. The company’s fifty day simple moving average is $73.48 and its two-hundred day simple moving average is $90.96. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -37.71 and a beta of 0.63.
Insider Activity
In other news, CEO Rowan M. Trollope sold 5,909 shares of Five9 stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $120.11, for a total value of $709,729.99. Following the transaction, the chief executive officer now owns 46,968 shares in the company, valued at approximately $5,641,326.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Barry Zwarenstein sold 10,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $116.32, for a total transaction of $1,163,200.00. Following the sale, the chief financial officer now owns 78,573 shares in the company, valued at approximately $9,139,611.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rowan M. Trollope sold 5,909 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $120.11, for a total value of $709,729.99. Following the sale, the chief executive officer now owns 46,968 shares in the company, valued at approximately $5,641,326.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,055 shares of company stock worth $3,119,520. Insiders own 2.40% of the company’s stock.
Institutional Investors Weigh In On Five9
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Five9 during the 1st quarter worth $41,000. Neo Ivy Capital Management grew its position in Five9 by 117.6% during the 2nd quarter. Neo Ivy Capital Management now owns 470 shares of the software maker’s stock worth $42,000 after acquiring an additional 254 shares during the last quarter. Advisors Asset Management Inc. grew its position in Five9 by 44.0% during the 1st quarter. Advisors Asset Management Inc. now owns 1,369 shares of the software maker’s stock worth $151,000 after acquiring an additional 418 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Five9 during the 1st quarter worth $212,000. Finally, Shay Capital LLC bought a new stake in Five9 during the 1st quarter worth $309,000.
Five9 Company Profile
Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.
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Read More: Five9 (NASDAQ:FIVN) Releases Q4 2022 Earnings Guidance