Five9 (NASDAQ:FIVN) Updates Q2 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.420-0.440 for the period, compared to the consensus earnings per share estimate of 0.440. The company issued revenue guidance of $244.0 million-$245.0 million, compared to the consensus revenue estimate of $248.0 million. Five9 also updated its FY 2024 guidance to 2.150-2.190 EPS.

Wall Street Analyst Weigh In

FIVN has been the topic of several recent analyst reports. Needham & Company LLC restated a buy rating and issued a $90.00 price objective on shares of Five9 in a report on Friday. Rosenblatt Securities restated a buy rating and set a $80.00 price target on shares of Five9 in a research report on Friday. KeyCorp lowered their target price on Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada assumed coverage on Five9 in a report on Friday, March 15th. They issued an outperform rating and a $80.00 target price for the company. Finally, Morgan Stanley dropped their price target on Five9 from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $84.88.

Five9 Stock Performance

NASDAQ FIVN traded down $2.19 during trading hours on Monday, hitting $55.69. 1,661,787 shares of the stock were exchanged, compared to its average volume of 1,319,664. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -65.52 and a beta of 0.85. Five9 has a 12-month low of $51.01 and a 12-month high of $92.40. The stock has a 50-day moving average of $59.98 and a 200 day moving average of $68.53. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.14. The firm had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. As a group, equities research analysts forecast that Five9 will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Five9

In other Five9 news, COO Andy Dignan sold 7,340 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

About Five9

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.