Five9 (NASDAQ:FIVN) Price Target Raised to $58.00 at Rosenblatt Securities

Five9 (NASDAQ:FIVN) had its price objective raised by Rosenblatt Securities from $50.00 to $58.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities analysts have also commented on the company. Morgan Stanley raised their price target on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. DA Davidson raised their price target on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company lowered Five9 from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $55.00 to $40.00 in a report on Tuesday, November 12th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price target on shares of Five9 in a report on Tuesday, December 17th. Finally, Robert W. Baird raised their price target on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and an average price target of $59.22.

Five9 Price Performance

Shares of NASDAQ FIVN opened at $42.09 on Friday. The stock has a fifty day simple moving average of $40.57 and a two-hundred day simple moving average of $35.89. Five9 has a 1-year low of $26.60 and a 1-year high of $65.71. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -84.18, a price-to-earnings-growth ratio of 9.44 and a beta of 0.93. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data 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 3.66% and a negative return on equity of 1.53%. The firm had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Analysts anticipate that Five9 will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Five9

In other Five9 news, COO Andy Dignan sold 4,109 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $41.85, for a total transaction of $171,961.65. Following the sale, the chief operating officer now owns 115,818 shares in the company, valued at $4,846,983.30. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the sale, the executive vice president now owns 69,009 shares in the company, valued at $2,904,588.81. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,004 shares of company stock worth $1,209,279 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Five9 by 2.4% in the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock worth $320,620,000 after buying an additional 259,820 shares during the period. Sylebra Capital LLC increased its holdings in shares of Five9 by 59.4% in the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock worth $152,228,000 after buying an additional 1,396,496 shares during the period. Ameriprise Financial Inc. increased its holdings 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 worth $97,356,000 after buying an additional 1,867,137 shares during the period. Norges Bank purchased a new position in shares of Five9 in the fourth quarter worth about $81,280,000. Finally, Wellington Management Group LLP increased its holdings in shares of Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after buying an additional 601,348 shares during the period. Hedge funds and other institutional investors 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.