Truist Financial Reaffirms “Buy” Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a note issued to investors on Tuesday,Benzinga reports. They currently have a $65.00 target price on the software maker’s stock. Truist Financial’s price target would indicate a potential upside of 57.61% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird increased their target price on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC lifted their price objective on shares of Five9 from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday. Rosenblatt Securities upped their target price on shares of Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Morgan Stanley reduced their price target 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. Finally, DA Davidson increased their price objective on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.18.

Five9 Stock Performance

FIVN opened at $41.24 on Tuesday. The company has a 50 day simple moving average of $36.36 and a two-hundred day simple moving average of $36.69. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $3.10 billion, a P/E ratio of -82.48, a PEG ratio of 28.88 and a beta of 0.92. Five9 has a 1-year low of $26.60 and a 1-year high of $81.72.

Insider Transactions at Five9

In related news, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the transaction, the executive vice president now owns 69,009 shares in the company, valued at approximately $2,904,588.81. This represents a 9.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Leena Mansharamani sold 1,346 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the transaction, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at approximately $1,468,289.58. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,004 shares of company stock valued at $1,209,279 in the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Five9 by 0.8% during the second quarter. Rhumbline Advisers now owns 86,000 shares of the software maker’s stock worth $3,793,000 after acquiring an additional 673 shares during the period. Signaturefd LLC raised its position in shares of 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 purchased a new position in shares of Five9 in the second quarter worth about $57,000. Arizona State Retirement System boosted its position in Five9 by 8.9% during the second quarter. Arizona State Retirement System now owns 20,673 shares of the software maker’s stock worth $912,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Five9 by 13.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock valued at $548,000 after acquiring an additional 2,254 shares in the last quarter. 96.64% of the stock is 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.