Royal Bank of Canada Reiterates Outperform Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $65.00 target price on the software maker’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 119.37% from the company’s previous close.

FIVN has been the topic of a number of other research reports. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Five9 in a report on Tuesday, December 17th. Cantor Fitzgerald upped their target price on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Rosenblatt Securities upped their target price on Five9 from $50.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Five9 in a report on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.76.

Five9 Price Performance

NASDAQ FIVN opened at $29.63 on Wednesday. The stock’s 50-day moving average price is $37.42 and its two-hundred day moving average price is $35.73. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The company has a market cap of $2.25 billion, a PE ratio of -148.14, a PEG ratio of 9.41 and a beta of 1.01. Five9 has a 1 year low of $26.60 and a 1 year high of $63.79.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). The company had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. On average, analysts predict that Five9 will post 0.28 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the sale, the chief accounting officer now directly owns 47,165 shares of the company’s stock, valued at approximately $1,424,383. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the sale, the executive vice president now directly owns 126,359 shares of the company’s stock, valued at $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,874 shares of company stock valued at $985,446 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Five9

Hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC boosted its position in shares of Five9 by 155.7% in the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after acquiring an additional 520 shares during the period. Banque Transatlantique SA acquired a new position in shares of Five9 in the fourth quarter valued at $36,000. Johnson Financial Group Inc. acquired a new position in shares of Five9 in the fourth quarter valued at $47,000. Steward Partners Investment Advisory LLC raised its stake in shares of Five9 by 7,305.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock valued at $54,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Five9 in the third quarter valued at $95,000. 96.64% of the stock is 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.