Five9 (NASDAQ:FIVN) Issues Q2 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.420-0.440 for the period, compared to the consensus EPS estimate of 0.440. The company issued revenue guidance of $244.0 million-$245.0 million, compared to the consensus revenue estimate of $248.0 million. Five9 also updated its FY 2024 guidance to 2.150-2.190 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FIVN shares. Royal Bank of Canada started coverage on shares of Five9 in a research note on Friday, March 15th. They set an outperform rating and a $80.00 target price for the company. Morgan Stanley reduced their price target on shares of Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Barclays reduced their price target on shares of Five9 from $105.00 to $95.00 and set an overweight rating for the company in a report on Thursday, February 22nd. KeyCorp reduced their price target on shares of Five9 from $93.00 to $86.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Finally, Needham & Company LLC restated a buy rating and issued a $90.00 price target on shares of Five9 in a report on Friday. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Five9 currently has a consensus rating of Moderate Buy and an average target price of $84.88.

Five9 Price Performance

FIVN stock traded down $2.19 during midday trading on Monday, reaching $55.69. The company had a trading volume of 1,661,787 shares, compared to its average volume of 1,319,664. The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02. Five9 has a 1 year low of $51.01 and a 1 year high of $92.40. The company has a market capitalization of $4.11 billion, a P/E ratio of -65.52 and a beta of 0.85. The firm has a 50-day moving average price of $59.98 and a 200-day moving average price of $68.53.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. The company had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. On average, research analysts anticipate that Five9 will post -0.42 earnings per share for the current fiscal year.

Insider Activity at Five9

In other Five9 news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Five9 Company Profile

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.