Five9 (FIVN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Five9 (NASDAQ:FIVN) from a buy rating to a hold rating in a report released on Tuesday.

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 analysts have also recently commented on FIVN. KeyCorp reaffirmed a buy rating and set a $27.00 target price on shares of Five9 in a research note on Friday, September 22nd. Canaccord Genuity upped their target price on Five9 from $25.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, September 27th. Northland Securities reaffirmed a buy rating and set a $25.00 target price on shares of Five9 in a research note on Wednesday, October 4th. Morgan Stanley upped their target price on Five9 from $21.00 to $23.00 and gave the company an equal weight rating in a research note on Thursday, November 9th. Finally, ValuEngine raised Five9 from a hold rating to a buy rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $26.50.

Shares of Five9 (FIVN) traded up $0.49 during midday trading on Tuesday, reaching $23.67. The company’s stock had a trading volume of 149,732 shares, compared to its average volume of 412,250. 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 has a 52 week low of $15.27 and a 52 week high of $27.81. The company has a market capitalization of $1,320.00, a PE ratio of -157.80 and a beta of 0.27.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The company had revenue of $50.08 million for the quarter, compared to analysts’ expectations of $48.20 million. Five9 had a negative return on equity of 34.14% and a negative net margin of 4.19%. The firm’s revenue was up 22.2% compared to the same quarter last year. equities analysts predict that Five9 will post -0.18 EPS for the current year.

In related news, CEO Barry Zwarenstein sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $24.52, for a total value of $122,600.00. Following the transaction, the chief executive officer now owns 141,778 shares of the company’s stock, valued at $3,476,396.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Welch sold 3,902 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $25.30, for a total value of $98,720.60. Following the completion of the transaction, the executive vice president now directly owns 105,003 shares in the company, valued at approximately $2,656,575.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 846,877 shares of company stock worth $20,492,200. Insiders own 9.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. AXA grew its stake in Five9 by 11.9% in the third quarter. AXA now owns 277,793 shares of the software maker’s stock worth $6,639,000 after purchasing an additional 29,500 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Five9 in the third quarter worth approximately $1,087,000. California Public Employees Retirement System grew its stake in Five9 by 14.3% in the third quarter. California Public Employees Retirement System now owns 45,378 shares of the software maker’s stock worth $1,085,000 after purchasing an additional 5,678 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Five9 in the third quarter worth approximately $211,000. Finally, Tremblant Capital Group bought a new position in Five9 in the third quarter worth approximately $19,544,000. 93.52% of the stock is currently owned by institutional investors.

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About Five9

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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