Five9 (NASDAQ:FIVN) Given New $53.00 Price Target at Piper Sandler

Five9 (NASDAQ:FIVN) had its price target hoisted by stock analysts at Piper Sandler from $46.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target points to a potential upside of 18.66% from the stock’s current price.

A number of other research firms have also recently issued reports on FIVN. Wells Fargo & Company cut Five9 from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $55.00 to $40.00 in a research note on Tuesday, November 12th. Cantor Fitzgerald assumed coverage on Five9 in a research note on Friday, January 17th. They set an “overweight” rating and a $46.00 target price for the company. DA Davidson increased their target price on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Five9 in a research note on Friday. Finally, Morgan Stanley increased their target price on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.61.

Five9 Stock Performance

Shares of FIVN stock opened at $44.67 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $3.36 billion, a PE ratio of -99.49, a price-to-earnings-growth ratio of 9.44 and a beta of 0.93. The stock has a 50-day moving average of $40.57 and a 200-day moving average of $35.89. Five9 has a one year low of $26.60 and a one year high of $65.71.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The company had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative net margin of 3.66% and a negative return on equity of 1.53%. As a group, sell-side analysts expect that Five9 will post 0.11 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Burkland sold 12,594 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 3,336 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $139,611.60. Following the completion of the sale, the chief financial officer now directly owns 98,396 shares of the company’s stock, valued at approximately $4,117,872.60. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders 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

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Five9 by 10.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock worth $156,000 after buying an additional 365 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Five9 by 2.0% during the fourth quarter. Arizona State Retirement System now owns 21,694 shares of the software maker’s stock worth $882,000 after buying an additional 424 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Five9 by 155.7% during the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock worth $35,000 after buying an additional 520 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Five9 by 6.1% during the fourth quarter. Xponance Inc. now owns 9,421 shares of the software maker’s stock worth $383,000 after buying an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Five9 by 1.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 32,607 shares of the software maker’s stock worth $1,325,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.