Five9 (NASDAQ:FIVN) Shares Gap Up on Analyst Upgrade

Five9, Inc. (NASDAQ:FIVN) gapped up before the market opened on Friday after Cantor Fitzgerald raised their price target on the stock from $46.00 to $57.00. The stock had previously closed at $41.69, but opened at $49.75. Cantor Fitzgerald currently has an overweight rating on the stock. Five9 shares last traded at $43.08, with a volume of 2,746,105 shares traded.

A number of other brokerages have also recently commented on FIVN. Morgan Stanley raised their price objective on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Five9 in a research note on Tuesday, December 17th. Piper Sandler raised their price objective on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday. Rosenblatt Securities raised their price objective on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Five9 in a research note on Friday. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Buying and Selling at Five9

In other news, CAO Leena Mansharamani sold 1,346 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $42.09, for a total value of $320,683.71. Following the transaction, the executive vice president now directly owns 69,009 shares of the company’s stock, valued at approximately $2,904,588.81. This represents a 9.94 % decrease in their ownership of the stock. 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 three months. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Five9

Several institutional investors have recently added to or reduced their stakes in FIVN. Signaturefd LLC lifted its stake in Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after purchasing an additional 984 shares during the last quarter. Horrell Capital Management Inc. purchased a new stake in Five9 during the third quarter worth approximately $3,304,000. Janney Montgomery Scott LLC purchased a new stake in Five9 during the third quarter worth approximately $811,000. Harvey Capital Management Inc. purchased a new stake in Five9 during the third quarter worth approximately $1,717,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in Five9 by 51.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,965 shares of the software maker’s stock worth $1,694,000 after purchasing an additional 20,040 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Five9 Stock Performance

The firm has a 50 day moving average of $40.57 and a two-hundred day moving average of $35.89. The stock has a market cap of $3.17 billion, a PE ratio of -84.18, a PEG ratio of 9.44 and a beta of 0.93. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN) last posted its earnings results 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). Five9 had a negative return on equity of 1.53% and a negative net margin of 3.66%. The business had revenue of $278.66 million for the quarter, compared to analysts’ expectations of $267.70 million. Research analysts predict that Five9, Inc. will post 0.11 EPS for the current fiscal year.

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.