Five9 Inc (FIVN) is Reiterated by Needham to Buy, Raises Price Target to $ 15

Five9 Inc (FIVN) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 15 from a previous price target of $11 . Needham advised their investors in a research report released on Aug 4, 2016.

Many Wall Street Analysts have commented on Five9 Inc. Five9 Inc was Initiated by Craig Hallum to “Buy” on Jun 9, 2016. Needham Resumed Five9 Inc on May 16, 2016 to “Buy”, Price Target of the shares are set at $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 $12.59 and hit $12.795 on the upside on Tusday, eventually ending the session at $12.65, with a gain of 0.48% or 0.06 points. The heightened volatility saw the trading volume jump to 5,22,759 shares. Company has a market cap of $656 M.

In a different news, on Aug 2, 2016, Barry Zwarenstein (Chief Financial Officer) sold 8,000 shares at $12.62 per share price. According to the SEC, on Jul 19, 2016, Michael Burkland (CEO, President and Chairman) sold 16,000 shares at $12.12 per share price. On Jun 17, 2016, Scott Welch (EVP, Cloud Operations) sold 27,936 shares at $11.91 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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