Five9 Inc (FIVN) is Downgraded by BofA/Merrill to Underperform

Five9 Inc (FIVN) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Sep 20, 2016.

Many Wall Street Analysts have commented on Five9 Inc. Company shares were Reiterated by Needham on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $11 .

On the company’s financial health, Five9 Inc reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.07. The company had revenue of $39.90 million for the quarter, compared to analysts expectations of $36.86 million. The company’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

Five9 Inc opened for trading at $14.45 and hit $14.63 on the upside on Friday, eventually ending the session at $14.54, with a gain of 0.28% or 0.04 points. The heightened volatility saw the trading volume jump to 841,655 shares. Company has a market cap of $764 M.

In a different news, on Sep 16, 2016, Michael Burkland (CEO, President and Chairman) sold 24,000 shares at $14.40 per share price. According to the SEC, on Sep 8, 2016, Jayendra Das (director) sold 167,920 shares at $15.58 per share price. On Sep 7, 2016, Michael J. Crane (EVP, Services) sold 8,848 shares at $15.80 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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