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

Five9, Inc. (NASDAQ:FIVN)’s share price gapped up prior to trading on Friday after Piper Sandler raised their price target on the stock from $46.00 to $53.00. The stock had previously closed at $41.69, but opened at $49.75. Piper Sandler currently has an overweight rating on the stock. Five9 shares last traded at $43.08, with a volume of 2,746,105 shares traded.

Other equities research analysts have also issued research reports about the company. Rosenblatt Securities upped their price objective on Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird increased their target price on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Cantor Fitzgerald assumed coverage on Five9 in a research report on Friday, January 17th. They set an “overweight” rating and a $46.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Five9 in a research report on Tuesday, December 17th. Finally, Barclays increased their target price on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.61.

Insider Transactions 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 directly owns 240,894 shares in the company, valued at $9,973,011.60. This trade represents a 4.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Barry Zwarenstein sold 3,336 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $139,611.60. Following the transaction, the chief financial officer now owns 98,396 shares of the company’s stock, valued at $4,117,872.60. This trade represents a 3.28 % 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 worth $1,209,279. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Five9

A number of hedge funds and other institutional investors have recently bought and sold shares of FIVN. Norges Bank purchased a new position in Five9 during the 4th quarter valued at about $81,280,000. Ameriprise Financial Inc. boosted its stake in shares of Five9 by 353.3% in the 4th 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. Sylebra Capital LLC boosted its stake in shares of Five9 by 59.4% in the 4th 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. purchased a new position in shares of Five9 in the 4th quarter valued at about $51,061,000. Finally, Wellington Management Group LLP boosted its stake in shares of Five9 by 50.9% in the 4th 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 hedge funds and other institutional investors.

Five9 Stock Up 3.9 %

The firm has a 50 day moving average price of $40.57 and a 200-day moving average price of $35.89. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm has a market cap of $3.26 billion, a PE ratio of -85.98, a PEG ratio of 9.44 and a beta of 0.93.

Five9 (NASDAQ:FIVN) last issued 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 analyst estimates of $267.70 million. Research analysts forecast that Five9, Inc. will post 0.11 EPS for the current fiscal year.

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.