Five9 (NASDAQ:FIVN) Receives “Buy” Rating from Needham & Company LLC

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $52.00 price objective on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 76.39% from the company’s current price.

A number of other research firms have also issued reports on FIVN. Rosenblatt Securities boosted their target price on Five9 from $50.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of Five9 in a research note on Thursday. Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday, December 17th. Morgan Stanley boosted their price target 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. Finally, Cantor Fitzgerald increased their price target on shares of Five9 from $46.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.25.

Five9 Stock Performance

Shares of Five9 stock opened at $29.48 on Monday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -147.39, a PEG ratio of 9.41 and a beta of 1.01. The firm’s fifty day simple moving average is $38.19 and its 200-day simple moving average is $35.84. 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 has a 12 month low of $26.60 and a 12 month high of $63.79.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts forecast that Five9 will post 0.28 earnings per share for the current year.

Insider Transactions at Five9

In other news, CAO Leena Mansharamani sold 1,135 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,165 shares of the company’s stock, valued at $1,424,383. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andy Dignan sold 2,840 shares of Five9 stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $94,373.20. Following the transaction, the chief operating officer now owns 194,201 shares of the company’s stock, valued at $6,453,299.23. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,874 shares of company stock valued at $985,446 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Five9

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Five9 in the 4th quarter valued at about $81,280,000. Ameriprise Financial Inc. raised its position in shares of Five9 by 353.3% in 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 last quarter. Sylebra Capital LLC lifted its stake 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. Fuller & Thaler Asset Management Inc. acquired a new stake in Five9 during the fourth quarter worth approximately $51,061,000. Finally, Wellington Management Group LLP grew its stake in Five9 by 50.9% in the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after acquiring an additional 601,348 shares during the period. Institutional investors and hedge funds 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.