Five9 (NASDAQ:FIVN) Given New $52.00 Price Target at Needham & Company LLC

Five9 (NASDAQ:FIVN) had its price objective increased by stock analysts at Needham & Company LLC from $48.00 to $52.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 23.19% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Rosenblatt Securities boosted their target price on shares of Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 8th. Truist Financial reissued a “buy” rating and set a $65.00 price objective on shares of Five9 in a report on Tuesday, August 27th. Robert W. Baird raised their target price on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Wells Fargo & Company cut Five9 from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $55.00 to $40.00 in a research report on Tuesday, November 12th. Finally, DA Davidson raised their price objective on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Five9 has an average rating of “Moderate Buy” and a consensus target price of $57.65.

Five9 Price Performance

FIVN opened at $42.21 on Monday. The firm has a 50-day moving average price of $35.53 and a 200-day moving average price of $36.79. Five9 has a twelve month low of $26.60 and a twelve month high of $85.00. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -84.42, a PEG ratio of 28.88 and a beta of 0.92.

Insider Activity

In related news, CAO Leena Mansharamani sold 1,346 shares of Five9 stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total value of $55,630.18. Following the transaction, the chief accounting officer now owns 35,526 shares in the company, valued at $1,468,289.58. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Burkland sold 12,594 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total transaction of $521,391.60. Following the completion of the sale, the chief executive officer now directly owns 240,894 shares of the company’s stock, valued at $9,973,011.60. This represents 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 worth $1,209,279. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Five9

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sylebra Capital LLC lifted its position in Five9 by 28.4% in the second quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after purchasing an additional 666,681 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Five9 by 347.4% in the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after buying an additional 584,800 shares during the period. Potrero Capital Research LLC bought a new stake in Five9 during the 3rd quarter valued at $15,610,000. Van Berkom & Associates Inc. raised its holdings in Five9 by 52.3% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after buying an additional 446,151 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Five9 by 38.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after buying an additional 406,188 shares during the period. 96.64% of the stock is currently 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.