Five9 (NASDAQ:FIVN) Updates FY 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.360-2.380 for the period, compared to the consensus estimate of 2.270. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Five9 also updated its Q4 guidance to $0.69-0.71 EPS.

Wall Street Analysts Forecast Growth

FIVN has been the subject of a number of recent research reports. Piper Sandler boosted their price target on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating and issued a $48.00 target price on shares of Five9 in a report on Friday. Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Monday, August 5th. Morgan Stanley lowered their price objective on Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Finally, BTIG Research cut their target price on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.89.

Five9 Stock Performance

Shares of NASDAQ:FIVN traded up $4.01 during mid-day trading on Friday, reaching $36.82. The company had a trading volume of 6,456,363 shares, compared to its average volume of 1,371,791. Five9 has a one year low of $26.60 and a one year high of $92.40. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $29.46 and its 200-day moving average price is $39.24. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -73.64 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.14. The firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $244.54 million. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. As a group, equities research analysts anticipate that Five9 will post -0.09 EPS for the current fiscal year.

Insider Activity at Five9

In related news, CAO Leena Mansharamani sold 1,395 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the completion of the transaction, the chief accounting officer now directly owns 36,872 shares of the company’s stock, valued at approximately $1,124,964.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Leena Mansharamani sold 1,395 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the sale, the chief accounting officer now directly owns 36,872 shares of the company’s stock, valued at approximately $1,124,964.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the completion of the transaction, the chief financial officer now owns 101,732 shares of the company’s stock, valued at $2,743,712.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,493 shares of company stock worth $1,097,753. 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, India, 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.