Five9 (NASDAQ:FIVN) Releases Q3 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.570-0.590 for the period, compared to the consensus EPS estimate of 0.550. The company issued revenue guidance of $254.5 million-$255.5 million, compared to the consensus revenue estimate of $266.4 million. Five9 also updated its FY 2024 guidance to 2.250-2.290 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FIVN. BTIG Research cut their price target on Five9 from $100.00 to $45.00 and set a buy rating on the stock in a report on Friday. StockNews.com raised shares of Five9 from a sell rating to a hold rating in a report on Thursday. Piper Sandler lowered their price objective on shares of Five9 from $58.00 to $47.00 and set an overweight rating on the stock in a research note on Friday. UBS Group dropped their target price on Five9 from $90.00 to $81.00 and set a buy rating on the stock in a report on Friday, May 3rd. Finally, Morgan Stanley decreased their price target on Five9 from $70.00 to $50.00 and set an equal weight rating for the company in a research note on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $65.82.

Five9 Stock Performance

Shares of FIVN traded down $11.25 during mid-day trading on Friday, hitting $31.22. The company’s stock had a trading volume of 13,568,559 shares, compared to its average volume of 1,377,451. The stock’s 50-day moving average is $42.97 and its two-hundred day moving average is $55.61. The firm has a market capitalization of $2.31 billion, a PE ratio of -36.73 and a beta of 0.82. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. Five9 has a one year low of $28.75 and a one year high of $92.40.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. The firm had revenue of $252.09 million during the quarter, compared to the consensus estimate of $244.54 million. As a group, sell-side analysts anticipate that Five9 will post -0.3 EPS for the current year.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 12,386 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the completion of the sale, the chief executive officer now owns 266,083 shares in the company, valued at approximately $12,319,642.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Burkland sold 12,386 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the completion of the transaction, the chief executive officer now directly owns 266,083 shares in the company, valued at $12,319,642.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Leena Mansharamani sold 1,542 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.27, for a total value of $71,348.34. Following the completion of the transaction, the chief accounting officer now directly owns 38,267 shares of the company’s stock, valued at $1,770,614.09. The disclosure for this sale can be found here. Insiders have sold 53,385 shares of company stock worth $2,418,755 over the last three months. Company insiders own 1.80% of the company’s stock.

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.