Five9 (NASDAQ:FIVN) Updates FY 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.360-2.380 for the period, compared to the consensus estimate of 2.270. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Five9 also updated its Q4 guidance to $0.69-0.71 EPS.

Five9 Stock Performance

Shares of NASDAQ FIVN traded up $1.33 during trading on Thursday, reaching $32.81. 3,699,415 shares of the company traded hands, compared to its average volume of 1,460,203. The firm has a 50 day simple moving average of $29.37 and a 200-day simple moving average of $39.54. Five9 has a 52-week low of $26.60 and a 52-week high of $92.40. The stock has a market capitalization of $2.45 billion, a PE ratio of -45.57 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.14. The company had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $244.54 million. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. Equities research analysts anticipate that Five9 will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FIVN has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Wells Fargo & Company cut their price target on Five9 from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $47.00 price target on shares of Five9 in a research report on Wednesday, August 21st. Northland Securities dropped their price objective on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com raised shares of Five9 from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Insiders Place Their Bets

In related news, CAO Leena Mansharamani sold 1,395 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the sale, the chief accounting officer now owns 36,872 shares in the company, valued at approximately $1,124,964.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Five9 news, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.27, for a total transaction of $381,250.65. Following the completion of the transaction, the chief executive officer now owns 253,488 shares in the company, valued at $7,673,081.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Leena Mansharamani sold 1,395 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the transaction, the chief accounting officer now directly owns 36,872 shares in the company, valued at approximately $1,124,964.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,493 shares of company stock valued at $1,097,753 over the last ninety days. 1.80% of the stock is owned by 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.