Five9 (NASDAQ:FIVN) Price Target Raised to $53.00 at Piper Sandler

Five9 (NASDAQ:FIVN) had its price target boosted by Piper Sandler from $46.00 to $53.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other research analysts also recently issued reports on FIVN. Morgan Stanley boosted their target price on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a research report on Tuesday, December 17th. Barclays upped their price objective on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company downgraded shares of Five9 from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Finally, Rosenblatt Securities upped their price objective on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.22.

Five9 Trading Up 1.0 %

NASDAQ FIVN opened at $42.09 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of -84.18, a P/E/G ratio of 9.44 and a beta of 0.93. The company has a fifty day moving average of $40.57 and a 200 day moving average of $35.89. Five9 has a 1 year low of $26.60 and a 1 year high of $65.71. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN) last posted 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). The business had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. Five9 had a negative net margin of 3.66% and a negative return on equity of 1.53%. Research analysts forecast that Five9 will post 0.11 earnings per share for the current year.

Insider Activity at Five9

In related news, CAO Leena Mansharamani sold 1,346 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total transaction of $55,630.18. Following the completion of the sale, the chief accounting officer now owns 35,526 shares of the company’s stock, valued at approximately $1,468,289.58. This represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Burkland sold 12,594 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total transaction of $521,391.60. Following the sale, the chief executive officer now directly owns 240,894 shares of the company’s stock, valued at approximately $9,973,011.60. This represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,004 shares of company stock valued at $1,209,279. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Several hedge funds have recently made changes to their positions in FIVN. Signaturefd LLC grew its stake in shares of Five9 by 1,892.3% in the 3rd 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 period. Horrell Capital Management Inc. purchased a new stake in shares of Five9 in the 3rd quarter valued at approximately $3,304,000. Janney Montgomery Scott LLC purchased a new stake in shares of Five9 in the 3rd quarter valued at approximately $811,000. Harvey Capital Management Inc. purchased a new stake in shares of Five9 in the 3rd quarter valued at approximately $1,717,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Five9 by 51.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,965 shares of the software maker’s stock valued at $1,694,000 after buying an additional 20,040 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

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.