Keybanc Maintains Five9 (FIVN) Overweight Recommendation
Fintel reports that on July 21, 2023, Keybanc maintained coverage of Five9 (NASDAQ:FIVN) with a Overweight recommendation.
Analyst Price Forecast Suggests 0.45% Downside
As of July 6, 2023, the average one-year price target for Five9 is 85.59. The forecasts range from a low of 61.61 to a high of $110.25. The average price target represents a decrease of 0.45% from its latest reported closing price of 85.98.
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The projected annual revenue for Five9 is 919MM, an increase of 12.81%. The projected annual non-GAAP EPS is 1.60.
What is the Fund Sentiment?
There are 760 funds or institutions reporting positions in Five9. This is an increase of 5 owner(s) or 0.66% in the last quarter. Average portfolio weight of all funds dedicated to FIVN is 0.40%, a decrease of 10.77%. Total shares owned by institutions decreased in the last three months by 7.10% to 85,908K shares. 
The put/call ratio of FIVN is 0.39, indicating a bullish outlook.
What are Other Shareholders Doing?
Pictet Asset Management holds 3,856K shares representing 5.42% ownership of the company. In it's prior filing, the firm reported owning 2,346K shares, representing an increase of 39.16%. The firm increased its portfolio allocation in FIVN by 51.47% over the last quarter.
Wasatch Advisors holds 3,589K shares representing 5.04% ownership of the company. In it's prior filing, the firm reported owning 3,558K shares, representing an increase of 0.87%. The firm decreased its portfolio allocation in FIVN by 0.61% over the last quarter.
Sylebra Capital holds 2,577K shares representing 3.62% ownership of the company. In it's prior filing, the firm reported owning 2,495K shares, representing an increase of 3.17%. The firm decreased its portfolio allocation in FIVN by 13.14% over the last quarter.
Wellington Management Group Llp holds 2,427K shares representing 3.41% ownership of the company. In it's prior filing, the firm reported owning 3,691K shares, representing a decrease of 52.08%. The firm decreased its portfolio allocation in FIVN by 30.77% over the last quarter.
Alliancebernstein holds 2,195K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 2,151K shares, representing an increase of 2.04%. The firm decreased its portfolio allocation in FIVN by 12.37% over the last quarter.
Five9 Background Information
(This description is provided by the company.)
Five9 is an industry-leading provider of cloud contact center solutions, bringing the power of cloud innovation to more than 2,000 customers worldwide and facilitating billions of customer engagements annually. The Five9 Intelligent Cloud Contact Center provides digital engagement, analytics, workflow automation, workforce optimization, and practical AI to help customers reimagine their customer experience. Designed to be reliable, secure, compliant, and scalable, the Five9 platform helps increase agent and supervisor productivity, connects the contact center to the business, and ultimately deliver tangible business results including increased revenue and enhanced customer trust and loyalty.
Additional reading:
- Five9 Reports First Quarter Revenue Growth of 20% to a Record $218.4 Million 31% Growth in LTM Enterprise Subscription Revenue 48% Growth in LTM International Revenue Record GAAP Operating Cash Flow of $33.4 Million
- Five9 Inc. Non-Employee Director Compensation Policy
- Five9, Inc. Performance-Based Restricted Stock Unit Grant Notice and Award Agreement for 2023-2025 Performance Period - 2014 Equity Incentive Plan
- Subsidiaries of the Company.
- Five9 Reports Fourth Quarter Revenue Growth of 20% to a Record $208.3 Million 32% Growth in LTM Enterprise Subscription Revenue 44% Growth in 2022 International Revenue Record Operating Cash Flow of $32.7 Million
This story originally appeared on Fintel.