Rosenblatt Securities Reiterates Buy Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $58.00 target price on the software maker’s stock. Rosenblatt Securities’ price target points to a potential upside of 92.44% from the stock’s previous close.

FIVN has been the subject of several other reports. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of Five9 in a report on Wednesday. Cantor Fitzgerald lifted their price objective on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Barclays boosted their target price on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.76.

Five9 Stock Up 1.7 %

Shares of FIVN opened at $30.14 on Thursday. The firm has a market capitalization of $2.28 billion, a P/E ratio of -150.69, a P/E/G ratio of 9.41 and a beta of 1.01. Five9 has a 12-month low of $26.60 and a 12-month high of $63.79. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm has a fifty day moving average price of $37.28 and a 200-day moving average price of $35.71.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.44). The firm had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. Equities research analysts expect that Five9 will post 0.28 earnings per share for the current year.

Insider Activity at Five9

In other Five9 news, EVP Panos Kozanian sold 7,619 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the sale, the executive vice president now owns 126,359 shares in the company, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $35.63, for a total value of $448,759.85. Following the completion of the sale, the chief executive officer now owns 404,056 shares in the company, valued at approximately $14,396,515.28. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,874 shares of company stock worth $985,446 over the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Several hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its position in Five9 by 2.4% in the 3rd quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock worth $320,620,000 after purchasing an additional 259,820 shares in the last quarter. Sylebra Capital LLC raised its stake in shares of Five9 by 59.4% during the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock worth $152,228,000 after buying an additional 1,396,496 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Five9 by 353.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after buying an additional 1,867,137 shares during the period. Norges Bank acquired a new position in shares of Five9 during the 4th quarter worth approximately $81,280,000. Finally, Wellington Management Group LLP raised its stake in shares of Five9 by 50.9% during the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after buying an additional 601,348 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

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.