Five9 (NASDAQ:FIVN) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $58.00 target price on the software maker’s stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley upped their price objective on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. William Blair reissued an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Piper Sandler increased their price target on shares of Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Five9 in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.76.

Five9 Stock Down 8.9 %

NASDAQ FIVN opened at $23.00 on Friday. 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 has a 52 week low of $22.09 and a 52 week high of $63.30. The stock has a market capitalization of $1.74 billion, a P/E ratio of -114.99, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. The stock has a fifty day moving average of $35.20 and a 200-day moving average of $35.76.

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

Insider Buying and Selling at Five9

In other news, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $35.63, for a total transaction of $448,759.85. Following the sale, the chief executive officer now directly owns 404,056 shares in the company, valued at $14,396,515.28. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andy Dignan sold 2,840 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total transaction of $94,373.20. Following the sale, the chief operating officer now owns 194,201 shares of the company’s stock, valued at $6,453,299.23. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,574 shares of company stock worth $1,004,346. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Five9

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Five9 by 13.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock worth $548,000 after purchasing an additional 2,254 shares in the last quarter. Verition Fund Management LLC raised its holdings in Five9 by 144.3% during the 3rd quarter. Verition Fund Management LLC now owns 49,511 shares of the software maker’s stock valued at $1,422,000 after acquiring an additional 29,248 shares during the period. XTX Topco Ltd bought a new position in shares of Five9 in the third quarter worth $629,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Five9 by 371.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 84,112 shares of the software maker’s stock worth $2,417,000 after acquiring an additional 66,286 shares during the period. Finally, Barclays PLC grew its position in shares of Five9 by 215.8% in the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock valued at $6,956,000 after purchasing an additional 165,487 shares in the last quarter. 96.64% of the stock is owned by institutional investors.

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.