Five9 (NASDAQ:FIVN) Releases Q2 Earnings Guidance

Five9 (NASDAQ:FIVN) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.42-0.44 for the period, compared to the consensus estimate of $0.44. The company issued revenue guidance of $244-245 million, compared to the consensus revenue estimate of $248.25 million. Five9 also updated its FY24 guidance to $2.15-2.19 EPS.

Five9 Stock Up 2.0 %

Shares of Five9 stock traded up $1.15 during trading hours on Friday, reaching $57.88. 3,913,144 shares of the company’s stock were exchanged, compared to its average volume of 1,140,257. The company has a 50 day moving average of $59.98 and a two-hundred day moving average of $68.53. Five9 has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. The stock has a market cap of $4.27 billion, a P/E ratio of -68.09 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.03%. The business had revenue of $239.06 million during the quarter, compared to the consensus estimate of $237.64 million. On average, sell-side analysts forecast that Five9 will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FIVN shares. Canaccord Genuity Group cut their target price 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 cut their price objective on shares of Five9 from $90.00 to $81.00 and set a buy rating for the company in a research report on Friday. Needham & Company LLC restated a buy rating and set a $90.00 price objective on shares of Five9 in a research report on Friday. Morgan Stanley cut their price objective on shares of Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Finally, Rosenblatt Securities restated a buy rating and set a $80.00 price objective on shares of Five9 in a research report on Friday. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $84.88.

Insider Activity at Five9

In related 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 value of $420,435.20. Following the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

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.