Five9 (NASDAQ:FIVN) Updates Q3 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.570-0.590 for the period, compared to the consensus earnings per share 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.

Five9 Stock Performance

Five9 stock traded down $11.25 during midday trading on Friday, hitting $31.22. 13,568,559 shares of the company were exchanged, compared to its average volume of 1,377,451. The firm has a market capitalization of $2.31 billion, a PE ratio of -36.73 and a beta of 0.82. Five9 has a fifty-two week low of $28.75 and a fifty-two week high of $92.40. The business has a fifty day simple moving average of $42.97 and a two-hundred day simple moving average of $55.61. 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 (NASDAQ:FIVN) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.14. The company had revenue of $252.09 million for the quarter, compared to the consensus estimate of $244.54 million. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. On average, sell-side analysts forecast that Five9 will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Rosenblatt Securities cut their target price on Five9 from $80.00 to $70.00 and set a buy rating for the company in a research note on Friday. Robert W. Baird downgraded Five9 from an outperform rating to a neutral rating and decreased their price target for the stock from $90.00 to $40.00 in a report on Friday. UBS Group decreased their price target on Five9 from $90.00 to $81.00 and set a buy rating for the company in a report on Friday, May 3rd. Wells Fargo & Company reduced their target price on Five9 from $80.00 to $65.00 and set an overweight rating for the company in a report on Friday. Finally, Barclays dropped their price target on Five9 from $75.00 to $55.00 and set an overweight rating on the stock in a research report on Friday. Three 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 currently has a consensus rating of Moderate Buy and an average price target of $65.82.

Insider Buying and Selling

In other news, CRO Daniel P. Burkland sold 7,698 shares of the company’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 $356,417.40. Following the transaction, the executive now directly owns 127,635 shares of the company’s stock, valued at $5,909,500.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO Daniel P. Burkland sold 7,698 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $356,417.40. Following the completion of the sale, the executive now owns 127,635 shares in the company, valued at $5,909,500.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Barry Zwarenstein sold 10,291 shares of the firm’s stock in a transaction dated 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 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. Insiders have sold a total of 53,385 shares of company stock valued at $2,418,755 over the last quarter. Corporate 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.