Five9 (NASDAQ:FIVN) Issues FY24 Earnings Guidance

Five9 (NASDAQ:FIVN) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.15-2.19 for the period, compared to the consensus EPS estimate of $2.17. The company issued revenue guidance of $1.053-1.057 billion, compared to the consensus revenue estimate of $1.06 billion. Five9 also updated its Q2 guidance to $0.42-0.44 EPS.

Five9 Price Performance

NASDAQ:FIVN traded up $1.15 during midday trading on Friday, hitting $57.88. The company had a trading volume of 3,913,144 shares, compared to its average volume of 1,140,257. The company has a market capitalization of $4.27 billion, a PE ratio of -68.09 and a beta of 0.85. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38. Five9 has a 52-week low of $51.01 and a 52-week high of $92.40. The stock’s fifty day moving average price is $59.98 and its 200-day moving average price is $68.53.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. The firm had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. Five9 had a negative return on equity of 9.03% and a negative net margin of 6.56%. As a group, research analysts expect that Five9 will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities restated a buy rating and issued a $80.00 price objective on shares of Five9 in a report on Friday. Canaccord Genuity Group lowered their price target on shares of Five9 from $90.00 to $75.00 and set a buy rating for the company in a research note on Monday, April 22nd. UBS Group reduced their price objective on Five9 from $90.00 to $81.00 and set a buy rating on the stock in a research note on Friday. Barclays lowered their target price on Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Finally, Morgan Stanley dropped their target price on Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Five9 has an average rating of Moderate Buy and an average target price of $84.88.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction of $420,435.20. Following the completion of the transaction, the chief operating officer now directly owns 129,559 shares in the company, valued at $7,421,139.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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.