Five9’s (FIVN) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note issued to investors on Friday, Benzinga reports. They currently have a $90.00 price target on the software maker’s stock.

Several other equities research analysts have also recently issued reports on FIVN. Rosenblatt Securities cut their price objective on shares of Five9 from $90.00 to $80.00 and set a buy rating for the company in a research report on Friday, April 26th. Morgan Stanley reduced their price target on shares of Five9 from $80.00 to $70.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. KeyCorp lowered their price objective on Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research report on Thursday, February 22nd. Piper Sandler lifted their target price on Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research report on Friday, January 12th. Finally, Barclays lowered their price target on Five9 from $105.00 to $95.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $84.88.

Five9 Stock Performance

NASDAQ:FIVN opened at $55.69 on Friday. Five9 has a twelve month low of $51.01 and a twelve month high of $92.40. The company has a market cap of $4.11 billion, a P/E ratio of -65.52 and a beta of 0.85. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 2.41. The company’s 50-day moving average price is $59.83 and its 200-day moving average price is $68.49.

Five9 (NASDAQ:FIVN) last released its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. The business had revenue of $239.06 million for the quarter, compared to analyst estimates of $237.64 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. On average, sell-side analysts forecast that Five9 will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In other news, COO Andy Dignan sold 7,340 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total transaction of $420,435.20. Following the completion of the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Five9 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,286,789 shares of the software maker’s stock valued at $573,397,000 after purchasing an additional 50,540 shares in the last quarter. Wasatch Advisors LP increased its holdings in Five9 by 1.9% in the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after buying an additional 63,200 shares during the last quarter. Sylebra Capital LLC acquired a new stake in Five9 in the third quarter valued at $129,467,000. Eagle Asset Management Inc. lifted its holdings in Five9 by 0.8% during the 4th quarter. Eagle Asset Management Inc. now owns 1,035,554 shares of the software maker’s stock worth $81,488,000 after buying an additional 8,231 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Five9 during the 4th quarter worth about $79,035,000. 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 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.