Five9 (NASDAQ:FIVN) Price Target Raised to $53.00

Five9 (NASDAQ:FIVN) had its price target upped by Piper Sandler from $46.00 to $53.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

FIVN has been the subject of several other research reports. Truist Financial reissued a “buy” rating and issued a $65.00 price target on shares of Five9 in a research report on Tuesday, December 17th. Cantor Fitzgerald assumed coverage on shares of Five9 in a research report on Friday, January 17th. They issued an “overweight” rating and a $46.00 price target for the company. Rosenblatt Securities lifted their price target on shares of Five9 from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Friday. Barclays lifted their price objective on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday. Finally, DA Davidson lifted their price objective on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.65.

Five9 Stock Performance

NASDAQ:FIVN opened at $42.09 on Friday. The company has a fifty day moving average of $40.57 and a 200-day moving average of $35.84. Five9 has a twelve month low of $26.60 and a twelve month high of $65.71. 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 $3.17 billion, a P/E ratio of -210.44, a P/E/G ratio of 9.41 and a beta of 0.93.

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

Insider Buying and Selling

In related news, CEO Michael Burkland sold 12,594 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the sale, the chief executive officer now directly owns 240,894 shares in the company, valued at approximately $9,973,011.60. The trade was a 4.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the completion of the sale, the executive vice president now owns 69,009 shares in the company, valued at $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. In the last ninety days, insiders have sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Five9 by 2.4% in the 3rd quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after acquiring an additional 259,820 shares during the period. Sylebra Capital LLC increased its position in shares of Five9 by 59.4% during the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after buying an additional 1,396,496 shares during the period. Ameriprise Financial Inc. increased its position in shares of Five9 by 353.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after buying an additional 1,867,137 shares during the period. Norges Bank bought a new stake in shares of Five9 during the fourth quarter valued at about $81,280,000. Finally, Wellington Management Group LLP increased its position in shares of Five9 by 50.9% during the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock valued at $72,496,000 after buying an additional 601,348 shares during the period. 96.64% of the stock is currently owned by institutional investors.

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.