Five9’s (FIVN) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report issued on Friday, Benzinga reports. The firm currently has a $90.00 price target on the software maker’s stock.

Other analysts have also issued reports about the company. Morgan Stanley lowered their price target on Five9 from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Canaccord Genuity Group reduced their target price on shares of Five9 from $90.00 to $75.00 and set a buy rating for the company in a research report on Monday, April 22nd. Barclays lowered their price target on shares of Five9 from $105.00 to $95.00 and set an overweight rating on the stock in a research report on Thursday, February 22nd. Rosenblatt Securities decreased their target price on shares of Five9 from $90.00 to $80.00 and set a buy rating on the stock in a research note on Friday, April 26th. Finally, Piper Sandler upped their price target on Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $84.88.

Five9 Trading Up 2.0 %

Shares of NASDAQ:FIVN opened at $57.88 on Friday. The business’s 50 day moving average price is $59.98 and its 200-day moving average price is $68.53. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 2.41. Five9 has a 1 year low of $51.01 and a 1 year high of $92.40.

Five9 (NASDAQ:FIVN) last announced its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. The business had revenue of $239.06 million for the quarter, compared to analyst estimates of $237.64 million. Research analysts anticipate that Five9 will post -0.42 earnings per share for the current year.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the transaction, the chief operating officer now owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Five9 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,286,789 shares of the software maker’s stock valued at $573,397,000 after acquiring an additional 50,540 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Five9 by 1.9% in the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after purchasing an additional 63,200 shares in the last quarter. Sylebra Capital LLC purchased a new position in Five9 in the third quarter valued at approximately $129,467,000. Eagle Asset Management Inc. raised its holdings in Five9 by 0.8% during the fourth quarter. Eagle Asset Management Inc. now owns 1,035,554 shares of the software maker’s stock worth $81,488,000 after purchasing an additional 8,231 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Five9 during the 4th quarter worth approximately $79,035,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.