In a report released today, Dmitry Netis from Stephens assigned a Hold rating to Five9 (FIVN), with a price target of $53. The company’s shares opened today at $53.51.
Netis said:
“We heard from several sources that EVP of Nystrom, is no longer with the company. Mr. Nystrom’s departure follows a string of other senior enterprise sales executives and inside sales exits in the last six months. We noted in early July (following the CCW conference), Five9 has lost 5-6 enterprise executives (link), all of whom went to competitors. This is in addition to an inside sales team of 8 people, which exited Five9 in March (link). Mr. Nystrom has been with the company for 9+ years, starting out as and was promoted to lead global sales in May 2017.Stephens Inc.”
According to TipRanks.com, Netis is ranked #207 out of 5244 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Five9 with a $58 average price target.
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The company has a one-year high of $57.90 and a one-year low of $31.64. Currently, Five9 has an average volume of 729.5K.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2019, Michael Burkland, a Director at FIVN sold 200,000 shares for a total of $9,997,281.
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Five9, Inc. engages in the provision of cloud software for contact centers. It offers end-to-end solutions with omnichannel routing, analytics, WFO, and AI to increase agent productivity and deliver tangible business results. The company was founded in December 2001 and is headquartered in San Ramon, CA.
