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

Five9, Inc. (NASDAQ:FIVN) shares gapped up prior to trading on Friday after Cantor Fitzgerald raised their price target on the stock from $46.00 to $57.00. The stock had previously closed at $41.69, but opened at $49.75. Cantor Fitzgerald currently has an overweight rating on the stock. Five9 shares last traded at $43.08, with a volume of 2,746,105 shares changing hands.

Other equities analysts have also issued research reports about the company. Truist Financial reiterated a “buy” rating and issued a $65.00 price target on shares of Five9 in a research note on Tuesday, December 17th. DA Davidson lifted their price target on Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price target on Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Five9 in a research note on Friday. Finally, Robert W. Baird lifted their price target on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. 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 an average rating of “Moderate Buy” and a consensus price target of $57.65.

Insiders Place Their Bets

In other Five9 news, CAO Leena Mansharamani sold 1,346 shares of Five9 stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the transaction, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at approximately $1,468,289.58. The trade was a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Burkland sold 12,594 shares of Five9 stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the transaction, the chief executive officer now directly owns 240,894 shares in the company, valued at $9,973,011.60. The trade was a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Five9 during the 4th quarter valued at about $81,280,000. Ameriprise Financial Inc. grew its stake in Five9 by 353.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after purchasing an additional 1,867,137 shares during the period. Sylebra Capital LLC grew its position in shares of Five9 by 59.4% during the 4th 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. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Five9 during the 4th quarter worth approximately $51,061,000. Finally, Wellington Management Group LLP increased 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 acquiring an additional 601,348 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Stock Up 1.0 %

The firm’s 50 day moving average price is $40.57 and its two-hundred day moving average price is $35.88. The company has a market cap of $3.17 billion, a P/E ratio of -210.44, a price-to-earnings-growth ratio of 9.41 and a beta of 0.93. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Five9 (NASDAQ:FIVN) last released 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). 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 1.23% and a positive return on equity of 3.62%. Equities research analysts anticipate that Five9, Inc. will post 0.28 EPS for the current fiscal year.

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.