Five9 (NASDAQ:FIVN) Hits New 1-Year Low at $39.89

Five9, Inc. (NASDAQ:FIVN)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $39.89 and last traded at $40.19, with a volume of 35616 shares traded. The stock had previously closed at $40.09.

Wall Street Analyst Weigh In

FIVN has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. 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 price objective on the stock. Canaccord Genuity Group dropped their price objective on shares of Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 price objective on shares of Five9 in a research note on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Five9 in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.71.

Five9 Trading Up 3.1 %

The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -48.85 and a beta of 0.81. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. The company’s 50 day simple moving average is $50.98 and its two-hundred day simple moving average is $63.93.

Five9 (NASDAQ:FIVN) last announced its earnings results on Thursday, May 2nd. The software maker reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. The company had revenue of $247.01 million during the quarter, compared to the consensus estimate of $239.72 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. As a group, research analysts anticipate that Five9, Inc. will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Five9 news, CFO Barry Zwarenstein sold 10,291 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $42.64, for a total value of $438,808.24. Following the completion of the transaction, the chief financial officer now owns 107,255 shares of the company’s stock, valued at $4,573,353.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Five9 news, EVP Panos Kozanian sold 6,893 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $319,145.90. Following the completion of the transaction, the executive vice president now owns 94,477 shares of the company’s stock, valued at $4,374,285.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Barry Zwarenstein sold 10,291 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $42.64, for a total transaction of $438,808.24. Following the transaction, the chief financial officer now directly owns 107,255 shares of the company’s stock, valued at approximately $4,573,353.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,541 shares of company stock valued at $2,024,537. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Five9 by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after purchasing an additional 150,786 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Five9 by 1.9% during the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock worth $214,875,000 after purchasing an additional 63,200 shares during the last quarter. Sylebra Capital LLC raised its holdings in shares of Five9 by 1.5% during the first quarter. Sylebra Capital LLC now owns 2,347,108 shares of the software maker’s stock worth $145,779,000 after purchasing an additional 34,681 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Five9 by 0.8% during the fourth quarter. Eagle Asset Management Inc. now owns 1,035,554 shares of the software maker’s stock worth $81,488,000 after purchasing an additional 8,231 shares during the last quarter. Finally, Norges Bank purchased a new position in Five9 in the fourth quarter valued at $79,035,000. Hedge funds and other institutional investors own 96.64% 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.