S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
SAN RAMON, CA - Five9, Inc. (NASDAQ:FIVN), a leader in cloud contact center software with annual revenue of $1.04 billion and a market capitalization of $2.3 billion, announced a reorganization of its board of directors in a recent SEC filing. According to InvestingPro data, the company currently trades at $30.89 per share and appears undervalued based on its Fair Value analysis. The company confirmed that Jack Acosta, a Class II director and Chair of the Audit Committee, will not seek re-election at the upcoming annual meeting on May 21, 2025. This leadership transition comes as InvestingPro analysis shows 8 analysts have revised their earnings upwards for the upcoming period, with net income expected to grow this year.
To balance the classes within the board, Five9 has moved a current director from Class III to Class II. Jonathan Mariner, who resigned as a Class III director on March 19, 2025, was immediately reappointed as a Class II director. His term will expire at the annual meeting, where he is set to be nominated for re-election along with other Class II directors, excluding Acosta.
Mariner will continue his role on both the Audit Committee and the Nominating and Governance Committee. Following the annual meeting, Maria Walker is slated to take over as chair of the Audit Committee. The reappointment does not alter Mariner’s current compensation or equity awards, and he will not receive a new grant for his continued service.
The board’s decision will reduce the total number of directors to nine and align the number of directors in Class II to three. Five9’s indemnification agreement with Mariner remains effective, ensuring protection under Delaware law for liabilities arising from his service.
This move comes as part of Five9’s ongoing efforts to streamline its governance structure. The information is based on a press release statement filed with the SEC. Investors seeking deeper insights into Five9’s governance and financial outlook can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Five9, Inc. announced significant developments in its financial and corporate landscape. The company reported a strong fourth-quarter performance, with Rosenblatt Securities highlighting a 16.6% year-over-year revenue growth, leading to an increased price target of $58. This growth was fueled by robust performance in healthcare and consumer sectors, as well as successful AI adoption, which now constitutes 9% of enterprise subscription revenue. Similarly, Cantor Fitzgerald raised its price target for Five9 to $57, citing the company’s AI-driven momentum and strategic partnerships as key factors for sustained growth.
In corporate updates, Five9 appointed Andy Dignan as the new President, further solidifying its leadership team. Dignan, who has been with Five9 since 2018, brings extensive experience from previous roles at Cisco Systems (NASDAQ:CSCO) and CDW (NASDAQ:CDW). Additionally, Barry Zwarenstein, the long-time CFO, is set to retire, with Bryan Lee stepping in as interim CFO. Needham maintained its Buy rating with a $52 target, expressing confidence in Five9’s potential to thrive in the evolving contact center market.
The company’s AI segment continues to shine, with revenues at an estimated run rate of $80 million and AI bookings accounting for over 20% of new enterprise logo bookings. Five9’s strategic initiatives, including its inclusion in the Google (NASDAQ:GOOGL) Cloud Platform marketplace, are anticipated to bolster performance in the second half of 2025. These developments reflect Five9’s strategic positioning and commitment to leveraging AI to enhance its offerings and market competitiveness.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.