Five9 Inc (FIVN) is Resumed by Needham to Buy, Price Target at $11

Five9 Inc (FIVN) was Resumed by Needham to “Buy” and the brokerage firm has set the Price Target at $11. Needham advised their investors in a research report released on May 16, 2016.

Many Wall Street Analysts have commented on Five9 Inc. Company shares were Reiterated by Canaccord Genuity on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .

On the company’s financial health, Five9 Inc reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 10, 2016. Analyst had a consensus of $-0.07. The company had revenue of $38.00 million for the quarter, compared to analysts expectations of $36.07 million. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Five9 Inc closed down -0.14 points or -1.52% at $9.1 with 4,59,906 shares getting traded on Friday. Post opening the session at $9.1, the shares hit an intraday low of $8.9036 and an intraday high of $9.45 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 11, 2016, Michael J. Crane (EVP, Services) sold 8,295 shares at $7.85 per share price. According to the SEC, on Mar 11, 2016, Scott Welch (EVP, Cloud Operations) sold 3,106 shares at $7.76 per share price. On Mar 11, 2016, Daniel P. Burkland (officer ) sold 1,989 shares at $7.79 per share price, according to the Form-4 filing with the securities and exchange commission.

Five9 Inc. (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service sales and marketing functions. The Company facilitates over three billion interactions between its 2000 clients and clients’ customers per year. The Company’s solution which consists of its VCC cloud platform and applications allows simultaneous management and optimization of customer interactions across voice chat email Web social media and mobile channels either directly or through its application programming interface. The Company’s VCC cloud platform matches each customer interaction with an appropriate agent resource and delivers relevant customer data to the agent in real-time through integrations with adjacent enterprise applications such as customer relationship management (CRM) software.

Five9 Inc

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