Five9 announces executive transition to consultancy role

SAN RAMON, CA – Five9, Inc. (NASDAQ:FIVN), a leader in cloud contact center software with a market capitalization of $3.06 billion and impressive revenue growth of ~14% over the last twelve months, has announced a significant change in its executive team. Daniel Burkland, the company’s Executive Vice President of Go-to-Market Strategy, will be transitioning to a consulting role effective March 8, 2025. According to InvestingPro data, 15 analysts have recently revised their earnings expectations upward for the upcoming period, suggesting positive momentum despite this transition.

According to an 8-K filing with the Securities and Exchange Commission, the company entered into a six-month consulting agreement with Mr. Burkland on February 7, 2025. In his new capacity, Burkland will provide advisory services focused on sales, marketing, partnerships, and customer relationships. The agreement specifies that he will be compensated at an hourly rate, details of which are outlined in the Consulting Agreement attached to the report. Five9’s strong financial position, with liquid assets exceeding short-term obligations and a moderate debt level, positions the company well during this transition period.

The change comes as part of Five9’s ongoing strategy to leverage experienced leadership in a consulting capacity, allowing for a seamless transition while maintaining continuity in key business areas. The Consulting Agreement also includes standard confidentiality and invention assignment clauses.

Five9, incorporated in Delaware and headquartered in San Ramon, California, has been at the forefront of the computer processing and data preparation industry, as classified under Standard Industrial Classification code 7374.

The company’s stock, traded under the ticker symbol FIVN on the NASDAQ Global Market, may see investor reaction to this executive shift. Currently trading at $40.65, InvestingPro analysis suggests the stock is undervalued, with a significant upside potential according to Fair Value calculations. While Five9 has shown strong price momentum with a 31.33% return over the past six months, investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.

The details of this executive transition are based on the latest SEC filing by Five9, Inc., providing stakeholders with transparent and up-to-date information on corporate governance matters.

In other recent news, Five9, a cloud contact center software company, has been making significant strides. Needham recently upgraded its price target for Five9 from $48.00 to $52.00, maintaining a positive Buy rating. This adjustment followed a meeting with Five9’s management team, where they showcased advancements in the company’s AI Genius suite, specifically the AI Agent expansion. These agents, equipped with General AI technologies, are designed to provide more sophisticated customer support interactions.

Simultaneously, Baird has increased its price target for Five9 from $40.00 to $43.00 following strong third-quarter results, although it maintains a Neutral rating on the shares. The company’s subscription revenue grew by 20%, contributing to upward revisions in its full-year guidance. Five9 also expressed confidence in meeting the consensus revenue forecast for 2025, with potential for higher earnings per share.

In addition to these developments, Five9 announced the appointment of Sagar Gupta from Anson Funds to its Board of Directors. This move, part of a cooperation agreement with Anson Funds, expands the board to ten directors. Gupta’s appointment is expected to bring valuable insights to the company’s growth strategy given his extensive experience in technology, media, and telecommunications sectors. These are the latest developments in the company’s continuous efforts to enhance its services and maintain a competitive edge in the market.

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