As of May 25, 2023, shares of Five9, Inc. (NASDAQ:FIVN) have garnered an average recommendation rating of “Moderate Buy” from a group of twenty-three analysts covering the stock. According to reports from Bloomberg, four analysts have given the stock a hold rating while ten have issued a buy rating on the company. Additionally, the average one-year price objective among analysts who have recently reported on the stock is $82.57.
Five9, Inc is a company specialized in providing cloud software for contact centers. This includes services like omnichannel routing, workforce organization and reporting, and analytics. The business was founded in December 2001 and has its headquarters located in San Ramon, CA.
In recent months, numerous large investors have bought and sold shares of Five9. Thrivent Financial for Lutherans increased its stake in the software maker’s stock by 1.6% during Q1. As such, it now owns 436,002 shares valued at $31,519,000 following an additional acquisition of 7,066 shares during this period.
In addition to Thrivent Financial for Lutherans’ purchase action Sylebra Capital Ltd increased its stake in Five9 by 3.3% throughout Q1 as well; owning now 2,576,950 shares. These holdings come with a valuation of $186,288,000 after they added 81-652 more shares throughout the quarter.
Sherbrooke Park Advisers LLC additionally purchased a new stake within Five9 during Q1 with an approximate value of $231k while Silvercrest Asset Management Group LLC lifted its position within this company’s stock by 27.1%. Therefore owning now around about 166K worth over $12m after adding an extra acquisition comprised of 35K during this time frame.
Finally though not least G2 Investment Partners Management LLC also played their hand increasing earned assets by around $25m according to our reports which was equal to an increase of 75.4% value in Q1 2023; this follows its purchasing of shares worth around about $4.3m expanding their asset usage now owning 60k shares overall.
As such, although the stock has been handed a “Moderate Buy” average recommendation by analysts who have studied it thoroughly, many large investors and funds have acted on their own accord throughout Q1, totaling up to approximately $250m in acquisitions for Five9’s stocks. This development lays out a convincing argument towards it potentially being a smart investment for interested parties looking to join the market.
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Five9 Inc. Receives Positive Analyst Ratings and Continues to Grow as a Cloud Software Provider for Contact Centers
Five9 Inc. is a California-based company providing cloud software for contact centers. The company, which specializes in omnichannel routing, analytics, workforce organization, and reporting, was founded in December 2001. In recent news pertaining to Five9, various research firms have issued reports on FIVN. Deutsche Bank Aktiengesellschaft lifted their price objective on Five9 from $55.00 to $70.00 in a research note on Thursday the 23rd of February while Wells Fargo & Company boosted their target price on Five9 from $85.00 to $90.00 and gave the company an “overweight” rating. In addition, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Five9.
On the other hand, CFO Barry Zwarenstein sold 2,500 shares of Five9 stock in a transaction that occurred on Monday the 22nd of May at an average price of $65.09 each. Following the transaction, Zwarenstein indirectly owns 89,803 shares in the company valued at approximately $5,845,277.27 or about 2% corporate ownership.
Shares of NASDAQ:FIVN opened at $58.05 on Thursday with a market capitalization of $4.13 billion and a beta of 0.72 while it has a debt-to-equity ratio of 2.18 and ROE -22%.
Five9’s last quarterly earnings data show positive revenue growth compared to analysts’ estimates with reported earnings per share beating expectations by $0.16 per share compared to analyst consensus estimates (-$0-.23). With a negative return on equity hovering around -21%, the current trend may indicate continued growth opportunities for investors over time if management continues its sound financial policies.
In conclusion, as witnessed from the above information concerning various research firms reaffirming their ratings as “buy” with a higher price objective, Five9 Inc. is poised to remain stable in the cloud software industry for contact centers due to its strong fundamentals and future projections of continued growth.
