Five9 COO Andy Dignan sells shares worth $94,373

Five9, Inc. (NASDAQ:FIVN), a cloud software company with a market capitalization of $2.5 billion, saw its Chief Operating Officer Andy Dignan recently execute a sale of company stock, according to a regulatory filing. According to InvestingPro data, the stock has declined about 9% in the past week. On March 4, Dignan sold 2,840 shares of Five9 common stock at an average price of $33.23 per share, totaling approximately $94,373. This transaction was mandated by Five9 to cover tax withholding obligations related to the vesting of restricted stock units, rather than being a discretionary trade by Dignan. Following the sale, Dignan holds 194,201 shares of Five9. InvestingPro analysis reveals that 8 analysts have recently revised their earnings estimates upward for the upcoming period, suggesting positive sentiment despite the recent stock weakness. For comprehensive insider trading analysis and additional insights, subscribers can access the full Pro Research Report, available for over 1,400 US stocks.

In other recent news, Five9, Inc. reported impressive fourth-quarter 2024 earnings, exceeding analyst expectations with earnings per share of $0.79 and revenue of $278.7 million. This performance reflects a 17% year-over-year revenue growth, primarily driven by a 19% increase in subscription revenue. The company also achieved a record adjusted EBITDA margin of 23.1%. Analysts have responded positively to these results, with Rosenblatt Securities raising its price target for Five9 to $58 and maintaining a Buy rating, citing strong fourth-quarter results and revenue growth. Similarly, Cantor Fitzgerald increased its price target to $57, highlighting the company’s AI-driven momentum and strong performance in large deals.

Five9’s AI segment continues to show significant growth, with AI adoption representing 9% of enterprise subscription revenue, marking a 46% increase year-over-year. AI bookings accounted for over 20% of new enterprise logo bookings, and AI install bookings saw a 50% year-over-year increase. The company’s strategic focus on AI has been instrumental in its recent success, with plans to further develop AI-related products and partnerships to sustain this momentum. In corporate developments, CFO Barry Zwarenstein announced his retirement, with Bryan Lee stepping in as interim CFO, ensuring a smooth transition during this period of growth.

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