Five9 (NASDAQ:FIVN) Given Buy Rating at Needham & Company LLC

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $48.00 price objective on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 17.94% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Piper Sandler upped their price target on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley reduced their target price on Five9 from $45.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Northland Securities decreased their price target on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded shares of Five9 from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lowered shares of Five9 from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $90.00 to $40.00 in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

Five9 Price Performance

NASDAQ:FIVN opened at $40.70 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15. Five9 has a one year low of $26.60 and a one year high of $92.40. The company has a fifty day moving average price of $29.37 and a 200 day moving average price of $39.54. The stock has a market cap of $3.04 billion, a P/E ratio of -45.57 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last released its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.14. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. The business had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $244.54 million. Analysts anticipate that Five9 will post -0.09 earnings per share for the current year.

Insider Activity at Five9

In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the sale, the chief financial officer now owns 101,732 shares of the company’s stock, valued at $2,743,712.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Panos Kozanian sold 7,617 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 76,628 shares in the company, valued at $2,300,372.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the transaction, the chief financial officer now owns 101,732 shares in the company, valued at $2,743,712.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,493 shares of company stock valued at $1,097,753 over the last ninety days. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Five9

Several large investors have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Five9 during the 3rd quarter worth about $95,000. Natixis Advisors LLC acquired a new stake in shares of Five9 during the 3rd quarter worth approximately $679,000. WCM Investment Management LLC grew its position in shares of Five9 by 14.6% during the 3rd quarter. WCM Investment Management LLC now owns 384,592 shares of the software maker’s stock worth $11,057,000 after buying an additional 48,981 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Five9 by 51.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,965 shares of the software maker’s stock worth $1,694,000 after buying an additional 20,040 shares during the last quarter. Finally, Harvey Capital Management Inc. acquired a new position in Five9 in the third quarter valued at approximately $1,717,000. Institutional investors and hedge funds 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.