Five9 (NASDAQ:FIVN) Given New $46.00 Price Target at Piper Sandler

Five9 (NASDAQ:FIVN) had its price objective increased by investment analysts at Piper Sandler from $35.00 to $46.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s target price indicates a potential upside of 24.93% from the company’s previous close.

FIVN has been the topic of several other reports. Roth Mkm cut 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. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Rosenblatt Securities decreased their target price on Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Morgan Stanley cut their price target on Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Finally, Truist Financial reissued a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.89.

Five9 Stock Performance

NASDAQ:FIVN opened at $36.82 on Friday. Five9 has a 12 month low of $26.60 and a 12 month high of $92.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.75 billion, a PE ratio of -73.64 and a beta of 0.85. The business’s fifty day moving average price is $29.46 and its 200 day moving average price is $39.24.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $252.09 million during the quarter, compared to the consensus estimate of $244.54 million. On average, sell-side analysts anticipate that Five9 will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at Five9

In related news, CRO Daniel P. Burkland sold 2,605 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $33.41, for a total value of $87,033.05. Following the completion of the sale, the executive now owns 132,554 shares in the company, valued at $4,428,629.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO Daniel P. Burkland sold 2,605 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.41, for a total transaction of $87,033.05. Following the transaction, the executive now owns 132,554 shares of the company’s stock, valued at $4,428,629.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Panos Kozanian sold 7,617 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total value of $228,662.34. Following the completion of the sale, the executive vice president now directly owns 76,628 shares of the company’s stock, valued at approximately $2,300,372.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,493 shares of company stock worth $1,097,753 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new stake in shares of Five9 during the 2nd quarter worth approximately $2,177,000. Scalar Gauge Management LLC purchased a new stake in Five9 during the second quarter worth $6,990,000. King Luther Capital Management Corp acquired a new stake in Five9 in the second quarter valued at $2,062,000. Van Berkom & Associates Inc. increased its position in shares of Five9 by 52.3% in the second 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 in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Five9 during the 3rd quarter worth $1,714,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.