DA Davidson Weighs in on Five9, Inc.’s Q3 2023 Earnings (NASDAQ:FIVN)

Posted by Defense World Staff on Aug 10th, 2023

Five9, Inc. (NASDAQ:FIVN – Free Report) – Stock analysts at DA Davidson issued their Q3 2023 earnings per share estimates for Five9 in a research note issued to investors on Tuesday, August 8th. DA Davidson analyst G. Luria expects that the software maker will post earnings per share of ($0.29) for the quarter. DA Davidson currently has a “Neutral” rating and a $75.00 target price on the stock. The consensus estimate for Five9’s current full-year earnings is ($1.13) per share.

A number of other research firms also recently weighed in on FIVN. Mizuho started coverage on shares of Five9 in a research note on Tuesday, May 30th. They set a “buy” rating and a $100.00 price target on the stock. Wells Fargo & Company raised their price objective on Five9 from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Piper Sandler increased their price objective on shares of Five9 from $89.00 to $94.00 in a research report on Tuesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 price target on shares of Five9 in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and an average target price of $83.59.

View Our Latest Report on Five9

Five9 Stock Down 3.3 %

Shares of NASDAQ:FIVN opened at $67.55 on Thursday. Five9 has a 12-month low of $46.61 and a 12-month high of $120.39. The stock’s 50-day moving average price is $79.56 and its two-hundred day moving average price is $71.97. The company has a current ratio of 5.00, a quick ratio of 5.00 and a debt-to-equity ratio of 2.18. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -56.29 and a beta of 0.79.

Insider Buying and Selling at Five9

In related news, CFO Barry Zwarenstein sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.02, for a total value of $137,550.00. Following the sale, the chief financial officer now owns 94,803 shares of the company’s stock, valued at approximately $5,216,061.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CRO Daniel P. Burkland sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $86.38, for a total value of $691,040.00. Following the completion of the sale, the executive now owns 109,875 shares of the company’s stock, valued at $9,491,002.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Barry Zwarenstein sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $55.02, for a total transaction of $137,550.00. Following the transaction, the chief financial officer now directly owns 94,803 shares in the company, valued at approximately $5,216,061.06. The disclosure for this sale can be found here. Insiders sold a total of 287,758 shares of company stock worth $21,799,003 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers increased its position in shares of Five9 by 14.0% during the 2nd quarter. Cetera Investment Advisers now owns 3,806 shares of the software maker’s stock valued at $314,000 after purchasing an additional 468 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Five9 by 53.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,110 shares of the software maker’s stock valued at $1,246,000 after purchasing an additional 5,284 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Five9 by 176.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 46,100 shares of the software maker’s stock worth $3,801,000 after purchasing an additional 29,400 shares during the last quarter. Summit Creek Advisors LLC raised its holdings in shares of Five9 by 13.4% in the 2nd quarter. Summit Creek Advisors LLC now owns 133,493 shares of the software maker’s stock worth $11,006,000 after purchasing an additional 15,747 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Five9 by 2.3% during the second quarter. Swiss National Bank now owns 155,700 shares of the software maker’s stock worth $12,837,000 after buying an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

About Five9

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Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally. The company offers 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.