Needham & Company LLC Forecasts Strong Price Appreciation for Five9 (NASDAQ:FIVN) Stock

Five9 (NASDAQ:FIVN) had its price target hoisted by Needham & Company LLC from $48.00 to $52.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $55.00 to $40.00 in a research report on Tuesday, November 12th. Robert W. Baird boosted their price target on Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Rosenblatt Securities raised their price objective on Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, August 27th. Finally, Piper Sandler raised their price target on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.18.

Five9 Trading Down 3.5 %

Five9 stock opened at $41.24 on Monday. The stock has a 50-day moving average price of $36.36 and a 200 day moving average price of $36.69. Five9 has a 52 week low of $26.60 and a 52 week high of $81.72. The stock has a market cap of $3.10 billion, a PE ratio of -82.48, a P/E/G ratio of 28.88 and a beta of 0.92. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

Insider Activity

In other news, COO Andy Dignan sold 4,109 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total transaction of $171,961.65. Following the sale, the chief operating officer now owns 115,818 shares in the company, valued at $4,846,983.30. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Leena Mansharamani sold 1,346 shares of the business’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 in the company, valued at approximately $1,468,289.58. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,004 shares of company stock valued at $1,209,279. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIVN. Raymond James & Associates increased its position in shares of Five9 by 10.6% during the second quarter. Raymond James & Associates now owns 96,034 shares of the software maker’s stock worth $4,235,000 after acquiring an additional 9,167 shares during the last quarter. Summit Global Investments increased its holdings in Five9 by 68.5% during the 2nd quarter. Summit Global Investments now owns 10,780 shares of the software maker’s stock worth $475,000 after purchasing an additional 4,383 shares during the last quarter. Nicholas Company Inc. raised its position in shares of Five9 by 30.5% in the 2nd quarter. Nicholas Company Inc. now owns 141,655 shares of the software maker’s stock valued at $6,247,000 after purchasing an additional 33,105 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Five9 by 14.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 166,238 shares of the software maker’s stock valued at $7,331,000 after buying an additional 21,390 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Five9 by 16.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,815 shares of the software maker’s stock worth $742,000 after buying an additional 2,376 shares in the last quarter. 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.