DA Davidson Has Bullish Forecast for Five9 FY2024 Earnings

Five9, Inc. (NASDAQ:FIVN - Free Report) - DA Davidson raised their FY2024 EPS estimates for Five9 in a report released 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 previous forecast of ($0.03). DA Davidson currently has a "Neutral" rating and a $45.00 target price 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.

A number of other brokerages have also commented on FIVN. Baird R W lowered Five9 from a "strong-buy" rating to a "hold" rating in a report on Friday, August 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $48.00 target price on shares of Five9 in a research note on Friday, November 8th. StockNews.com upgraded Five9 from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. BTIG Research cut their price target on shares of Five9 from $100.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Finally, Morgan Stanley cut their price target on shares of Five9 from $45.00 to $37.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.22.

Five9 Stock Up 2.8 %

Shares of FIVN stock traded up $1.08 during trading hours on Wednesday, reaching $40.35. The company had a trading volume of 6,192,655 shares, compared to its average volume of 1,526,563. The business has a fifty day simple moving average of $29.78 and a 200-day simple moving average of $38.81. Five9 has a 12 month low of $26.60 and a 12 month high of $92.40. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -80.70, 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 current ratio of 1.85 and a quick ratio of 1.85.

Institutional Investors Weigh In On Five9

Hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of Five9 during the second quarter worth about $2,177,000. Scalar Gauge Management LLC purchased a new stake in shares of Five9 during the second quarter worth approximately $6,990,000. King Luther Capital Management Corp purchased a new stake in shares of Five9 in the second quarter valued at approximately $2,062,000. Van Berkom & Associates Inc. grew its stake in shares of Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker's stock valued at $57,307,000 after buying an additional 446,151 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Five9 during the 3rd quarter worth about $1,714,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Five9

In other news, EVP Panos Kozanian sold 7,617 shares of Five9 stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total value of $228,662.34. Following the sale, the executive vice president now directly owns 76,628 shares of the company's stock, valued at approximately $2,300,372.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Panos Kozanian sold 7,617 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction of $228,662.34. Following the transaction, the executive vice president now owns 76,628 shares of the company's stock, valued at approximately $2,300,372.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Daniel P. Burkland sold 2,605 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the completion of the sale, the executive now owns 132,554 shares of the company's stock, valued at approximately $4,428,629.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,493 shares of company stock valued at $1,097,753 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

About Five9

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.