Five9 (NASDAQ:FIVN) Updates FY 2024 Earnings Guidance

Five9 (NASDAQ:FIVN) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.150-2.190 for the period, compared to the consensus earnings per share estimate of 2.160. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Five9 also updated its Q2 2024 guidance to 0.420-0.440 EPS.

Five9 Stock Down 3.8 %

Five9 stock traded down $2.19 during trading hours on Monday, hitting $55.69. 1,661,787 shares of the stock traded hands, compared to its average volume of 1,319,664. The firm’s 50-day moving average price is $59.98 and its two-hundred day moving average price is $68.53. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 2.41. The company has a market cap of $4.11 billion, a PE ratio of -65.52 and a beta of 0.85. Five9 has a one year low of $51.01 and a one year high of $92.40.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FIVN. Wells Fargo & Company dropped their price target on Five9 from $90.00 to $85.00 and set an overweight rating on the stock in a research report on Friday. KeyCorp dropped their price target on Five9 from $93.00 to $86.00 and set an overweight rating on the stock in a research report on Thursday, February 22nd. UBS Group dropped their price target on Five9 from $90.00 to $81.00 and set a buy rating on the stock in a research report on Friday. Morgan Stanley decreased their price objective on shares of Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Finally, Canaccord Genuity Group decreased their price objective on shares of Five9 from $90.00 to $75.00 and set a buy rating for the company in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Five9 currently has a consensus rating of Moderate Buy and a consensus price target of $84.88.

Insider Buying and Selling at Five9

In other news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the sale, the chief operating officer now directly owns 129,559 shares in the company, valued at approximately $7,421,139.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.