Five9 (NASDAQ:FIVN) Given New $52.00 Price Target at Needham & Company LLC

Five9 (NASDAQ:FIVN) had its price objective increased by Needham & Company LLC from $48.00 to $52.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lowered their price objective on Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Robert W. Baird increased their price target on shares of Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Wells Fargo & Company cut shares of Five9 from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. DA Davidson increased their price target on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Piper Sandler boosted their price objective on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $57.65.

Five9 Price Performance

Shares of FIVN opened at $42.61 on Monday. The business’s 50-day moving average is $35.53 and its two-hundred day moving average is $36.72. The company has a market capitalization of $3.20 billion, a P/E ratio of -85.10, a P/E/G ratio of 28.88 and a beta of 0.92. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $82.61. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Insider Activity

In other news, CAO Leena Mansharamani sold 1,346 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total value of $55,630.18. Following the sale, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at approximately $1,468,289.58. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $42.09, for a total transaction of $320,683.71. Following the transaction, the executive vice president now directly owns 69,009 shares of the company’s stock, valued at $2,904,588.81. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,004 shares of company stock valued at $1,209,279 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after buying an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Five9 during the 2nd quarter valued at about $57,000. Quest Partners LLC acquired a new position in Five9 in the 3rd quarter valued at about $95,000. nVerses Capital LLC purchased a new stake in Five9 during the third quarter worth about $141,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Five9 during the third quarter worth about $145,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, and internationally. It offers a virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales, and marketing functions.