Needham & Company LLC Reaffirms “Buy” Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $52.00 price objective on the software maker’s stock. Needham & Company LLC’s price objective indicates a potential upside of 23.54% from the company’s current price.

Several other equities analysts have also weighed in on FIVN. Piper Sandler increased their target price on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Rosenblatt Securities increased their target price on Five9 from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Friday. Barclays raised their price target on Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird raised their price target on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, DA Davidson raised their price target on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. 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 data from MarketBeat.com, Five9 currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.65.

Five9 Trading Up 1.0 %

Shares of FIVN opened at $42.09 on Friday. Five9 has a 12-month low of $26.60 and a 12-month high of $65.71. The stock’s fifty day simple moving average is $40.57 and its 200-day simple moving average is $35.88. 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 PE ratio of -210.44, a price-to-earnings-growth ratio of 9.41 and a beta of 0.93.

Five9 (NASDAQ:FIVN) last released 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 net margin of 1.23% and a positive return on equity of 3.62%. The company had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. As a group, research analysts predict that Five9 will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In other Five9 news, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $42.09, for a total value of $320,683.71. Following the completion of the transaction, the executive vice president now directly owns 69,009 shares in the company, valued at $2,904,588.81. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Burkland sold 12,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total value 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 approximately $9,973,011.60. This represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,004 shares of company stock worth $1,209,279. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Sylebra Capital LLC grew its stake in Five9 by 59.4% in the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after purchasing an additional 1,396,496 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Five9 by 261.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,728 shares of the software maker’s stock valued at $27,746,000 after purchasing an additional 493,709 shares in the last quarter. Tremblant Capital Group grew its stake in Five9 by 24.3% in the fourth quarter. Tremblant Capital Group now owns 654,174 shares of the software maker’s stock valued at $26,586,000 after purchasing an additional 127,979 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Five9 by 65.9% during the 4th quarter. Two Sigma Advisers LP now owns 117,100 shares of the software maker’s stock worth $4,759,000 after acquiring an additional 46,500 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Five9 by 16.0% during the 4th quarter. Two Sigma Investments LP now owns 306,032 shares of the software maker’s stock worth $12,437,000 after acquiring an additional 42,315 shares during the period. 96.64% of the stock is currently owned by 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.