DA Davidson Has Positive Forecast for Five9 FY2024 Earnings

Five9, Inc. (NASDAQ:FIVN) – Equities researchers at DA Davidson lifted their FY2024 EPS estimates for Five9 in a research report issued on Monday, November 11th. DA Davidson analyst G. Luria now forecasts that the software maker will post earnings of $0.10 per share for the year, up from their prior forecast of ($0.03). DA Davidson has a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Five9’s current full-year earnings is $0.10 per share. DA Davidson also issued estimates for Five9’s FY2025 earnings at $0.30 EPS.

FIVN has been the topic of several other research reports. BTIG Research cut their price target on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, August 5th. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $55.00 to $40.00 in a research note on Tuesday. Finally, Robert W. Baird increased their target price on shares of Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Five9 Stock Down 3.4 %

FIVN opened at $38.96 on Wednesday. The stock has a market capitalization of $2.93 billion, a P/E ratio of -77.76, a price-to-earnings-growth ratio of 26.52 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. Five9 has a one year low of $26.60 and a one year high of $92.40. The business’s 50-day simple moving average is $29.99 and its 200-day simple moving average is $38.82.

Insider Buying and Selling

In other news, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.27, for a total value of $381,250.65. Following the completion of the transaction, the chief executive officer now directly owns 253,488 shares of the company’s stock, valued at $7,673,081.76. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Daniel P. Burkland sold 2,605 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.41, for a total value of $87,033.05. Following the sale, the executive now directly owns 132,554 shares in the company, valued at approximately $4,428,629.14. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,493 shares of company stock worth $1,097,753 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Several hedge funds and other institutional investors have recently bought and sold shares of FIVN. Signaturefd LLC grew its position in shares of Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after purchasing an additional 984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Five9 in the second quarter worth approximately $57,000. Quest Partners LLC purchased a new stake in Five9 in the third quarter valued at approximately $95,000. nVerses Capital LLC acquired a new position in Five9 during the third quarter worth approximately $141,000. Finally, Quent Capital LLC raised its stake in Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after purchasing an additional 352 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, 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.