Five9 (NASDAQ:FIVN) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report published on Friday morning,Benzinga reports. The firm currently has a $52.00 price objective on the software maker’s stock.

Other analysts also recently issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $65.00 price target on shares of Five9 in a research report on Wednesday, March 19th. Morgan Stanley boosted their target price on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Piper Sandler increased their price target on Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of Five9 in a research report on Thursday, March 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $58.00 price objective on shares of Five9 in a research note on Thursday, March 20th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.76.

Five9 Trading Down 8.9 %

Five9 stock opened at $23.00 on Friday. Five9 has a 52-week low of $22.09 and a 52-week high of $63.30. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -114.99, a PEG ratio of 9.41 and a beta of 1.29. The firm has a 50-day moving average price of $35.20 and a two-hundred day moving average price of $35.66.

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

Insiders Place Their Bets

In other Five9 news, CFO Barry Zwarenstein sold 2,468 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total transaction of $82,011.64. Following the completion of the sale, the chief financial officer now owns 92,583 shares of the company’s stock, valued at $3,076,533.09. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Leena Mansharamani sold 1,135 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the sale, the chief accounting officer now owns 47,165 shares of the company’s stock, valued at $1,424,383. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,574 shares of company stock valued at $1,004,346 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC grew its position in shares of Five9 by 155.7% in the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after purchasing an additional 520 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Five9 in the 4th quarter valued at approximately $36,000. Johnson Financial Group Inc. bought a new position in Five9 in the 4th quarter worth approximately $47,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock worth $54,000 after buying an additional 1,315 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Five9 by 3,955.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,636 shares of the software maker’s stock valued at $107,000 after acquiring an additional 2,571 shares during the period. Institutional investors own 96.64% of the company’s stock.

About Five9

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.