Five9’s (FIVN) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note issued to investors on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $52.00 price target on the software maker’s stock.

Several other analysts have also commented on FIVN. DA Davidson increased their price target on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Cantor Fitzgerald started coverage on Five9 in a report on Friday, January 17th. They set an “overweight” rating and a $46.00 target price on the stock. Rosenblatt Securities raised their price target on Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a research report on Tuesday, December 17th. Finally, Morgan Stanley lifted their price objective on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Five9 Price Performance

Shares of NASDAQ:FIVN opened at $39.13 on Tuesday. Five9 has a 52 week low of $26.60 and a 52 week high of $80.39. The company has a 50-day moving average price of $40.43 and a 200 day moving average price of $36.25. The company has a market cap of $2.94 billion, a P/E ratio of -78.26, a PEG ratio of 8.93 and a beta of 0.92. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Thursday, November 7th. The software maker reported $0.15 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.43). The company had revenue of $264.18 million during the quarter, compared to analyst estimates of $254.82 million. Five9 had a negative net margin of 3.66% and a negative return on equity of 1.53%. During the same quarter last year, the business earned ($0.21) EPS. Research analysts predict that Five9 will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Five9

In related news, CEO Michael Burkland sold 12,594 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total transaction of $521,391.60. Following the completion of the transaction, the chief executive officer now owns 240,894 shares of the company’s stock, valued at $9,973,011.60. This trade represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Leena Mansharamani sold 1,346 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total transaction of $55,630.18. Following the completion of the sale, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at $1,468,289.58. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Five9

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Five9 by 2.4% during the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after buying an additional 259,820 shares in the last quarter. Sylebra Capital LLC grew its stake in Five9 by 28.4% during the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after acquiring an additional 666,681 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Five9 by 14.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after purchasing an additional 210,836 shares in the last quarter. Fisher Asset Management LLC grew its position in Five9 by 14.9% during the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock valued at $21,891,000 after purchasing an additional 98,543 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Five9 by 347.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock valued at $33,213,000 after buying an additional 584,800 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

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.