Five9 (NASDAQ:FIVN) Hits New 52-Week Low at $39.07

Five9, Inc. (NASDAQ:FIVN)’s share price hit a new 52-week low on Wednesday . The company traded as low as $39.07 and last traded at $39.40, with a volume of 57815 shares traded. The stock had previously closed at $39.54.

Wall Street Analysts Forecast Growth

FIVN has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on Five9 from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Five9 in a research report on Thursday, June 6th. UBS Group reduced their price objective on shares of Five9 from $90.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 price objective on shares of Five9 in a research report on Friday, May 3rd. Finally, Morgan Stanley reduced their price objective on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.71.

Five9 Stock Performance

The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02. The company’s fifty day moving average price is $49.71 and its 200 day moving average price is $62.84. The company has a market cap of $3.19 billion, a PE ratio of -50.81 and a beta of 0.81.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.13. The firm had revenue of $247.01 million during the quarter, compared to analyst estimates of $239.72 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. On average, equities research analysts predict that Five9, Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Burkland sold 12,386 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the completion of the transaction, the chief executive officer now directly owns 266,083 shares of the company’s stock, valued at $12,319,642.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Five9 news, COO Andy Dignan sold 5,731 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $265,345.30. Following the sale, the chief operating officer now directly owns 124,172 shares in the company, valued at $5,749,163.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Burkland sold 12,386 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 $573,471.80. Following the transaction, the chief executive officer now directly owns 266,083 shares in the company, valued at approximately $12,319,642.90. The disclosure for this sale can be found here. Insiders sold a total of 44,541 shares of company stock valued at $2,024,537 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC purchased a new position in shares of Five9 in the third quarter worth about $129,467,000. Norges Bank bought a new stake in Five9 during the 4th quarter valued at $79,035,000. Assenagon Asset Management S.A. raised its holdings in Five9 by 84.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after acquiring an additional 383,002 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of Five9 by 123.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock worth $51,026,000 after acquiring an additional 358,887 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Five9 by 966.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock worth $22,411,000 after acquiring an additional 315,867 shares during the period. 96.64% of the stock is currently owned by institutional investors.

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.