Five9 (NASDAQ:FIVN) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $48.00 price objective on the software maker’s stock.

Several other analysts have also recently weighed in on FIVN. Northland Securities cut their price target on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Barclays cut their price target on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Piper Sandler lifted their price target on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Bank of America raised Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, August 5th. Finally, BTIG Research lowered their price objective on Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and an average price target of $59.89.

Five9 Price Performance

FIVN traded up $4.01 during midday trading on Friday, hitting $36.82. The stock had a trading volume of 6,456,363 shares, compared to its average volume of 1,371,791. The company has a market cap of $2.75 billion, a P/E ratio of -73.64 and a beta of 0.85. The business has a fifty day moving average of $29.46 and a 200 day moving average of $39.39. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15. Five9 has a 1 year low of $26.60 and a 1 year high of $92.40.

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

Insider Buying and Selling at Five9

In other news, CAO Leena Mansharamani sold 1,395 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the transaction, the chief accounting officer now owns 36,872 shares of the company’s stock, valued at approximately $1,124,964.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Barry Zwarenstein sold 4,408 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was 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 $2,743,712.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Leena Mansharamani sold 1,395 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total value of $42,561.45. Following the sale, the chief accounting officer now owns 36,872 shares of the company’s stock, valued at $1,124,964.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,493 shares of company stock valued at $1,097,753 in the last quarter. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIVN. Signaturefd LLC raised its stake in Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after buying an additional 984 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Five9 in the second quarter valued at approximately $57,000. Quest Partners LLC acquired a new stake in shares of Five9 in the third quarter worth approximately $95,000. nVerses Capital LLC acquired a new stake in shares of Five9 in the third quarter worth approximately $141,000. Finally, Quent Capital LLC boosted its stake in shares of Five9 by 8.7% in the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after acquiring an additional 352 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other 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.