DA Davidson Forecasts Strong Price Appreciation for Five9 (NASDAQ:FIVN) Stock

Five9 (NASDAQ:FIVN) had its price target boosted by research analysts at DA Davidson from $40.00 to $45.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. DA Davidson’s price objective indicates a potential upside of 20.48% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Truist Financial restated a “buy” rating and issued a $65.00 target price on shares of Five9 in a research report on Tuesday, August 27th. Morgan Stanley reduced their price objective on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Rosenblatt Securities lowered their target price on shares of Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Roth Mkm reduced their price target on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, BTIG Research decreased their price objective on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Five9 currently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Five9 Price Performance

FIVN traded up $4.54 on Friday, hitting $37.35. 2,723,870 shares of the company’s stock were exchanged, compared to its average volume of 1,466,370. The firm has a 50-day moving average price of $29.37 and a 200-day moving average price of $39.54. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -51.78 and a beta of 0.85. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $92.40.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.14. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. The company had revenue of $252.09 million for the quarter, compared to analyst estimates of $244.54 million. As a group, equities analysts anticipate that Five9 will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other Five9 news, CRO Daniel P. Burkland sold 2,605 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.41, for a total value of $87,033.05. Following the sale, the executive now owns 132,554 shares of the company’s stock, valued at $4,428,629.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CRO Daniel P. Burkland sold 2,605 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $33.41, for a total transaction of $87,033.05. Following the completion of the transaction, the executive now directly owns 132,554 shares of the company’s stock, valued at approximately $4,428,629.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the completion of the sale, the chief financial officer now directly owns 101,732 shares in the company, valued at approximately $2,743,712.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,493 shares of company stock valued at $1,097,753 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Five9

Several institutional investors have recently modified their holdings of FIVN. Neo Ivy Capital Management acquired a new stake in Five9 in the second quarter valued at $2,177,000. Scalar Gauge Management LLC purchased a new position in shares of Five9 in the 2nd quarter valued at about $6,990,000. King Luther Capital Management Corp acquired a new stake in shares of Five9 during the 2nd quarter worth about $2,062,000. Van Berkom & Associates Inc. lifted its stake in Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in Five9 in the third quarter valued at approximately $1,714,000. 96.64% of the stock is owned by hedge funds and other 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.