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

Needham & Company LLC restated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report released on Friday,Benzinga reports. The brokerage currently has a $52.00 price objective on the software maker’s stock.

A number of other analysts also recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Five9 in a report on Wednesday, March 19th. William Blair restated an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. Piper Sandler boosted their target price on shares of Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Truist Financial reissued a “buy” rating and issued a $65.00 price target on shares of Five9 in a research report on Tuesday, December 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price target on shares of Five9 in a report on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.76.

Five9 Stock Performance

Five9 stock opened at $23.00 on Friday. The business’s 50-day moving average price is $35.20 and its two-hundred day moving average price is $35.76. Five9 has a 12-month low of $22.09 and a 12-month high of $63.30. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The stock has a market cap of $1.74 billion, a PE ratio of -114.99, a P/E/G ratio of 9.41 and a beta of 1.29.

Five9 (NASDAQ:FIVN) last posted its earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.44). The business had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. As a group, analysts expect that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Leena Mansharamani sold 1,517 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $50,409.91. Following the completion of the sale, the chief accounting officer now owns 48,300 shares of the company’s stock, valued at $1,605,009. The trade was a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Panos Kozanian sold 7,619 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the sale, the executive vice president now owns 126,359 shares of the company’s stock, valued at $4,220,390.60. This trade represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,574 shares of company stock worth $1,004,346 in the last three months. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Institutional investors and hedge funds have recently modified their holdings of the stock. Moody National Bank Trust Division bought a new stake in shares of Five9 in the 1st quarter worth about $423,000. Wellington Management Group LLP raised its stake in Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock valued at $72,496,000 after buying an additional 601,348 shares during the last quarter. Menard Financial Group LLC acquired a new stake in shares of Five9 during the fourth quarter worth $206,000. Jefferies Financial Group Inc. purchased a new stake in Five9 during the 4th quarter valued at about $1,048,000. Finally, Sylebra Capital LLC lifted its stake in Five9 by 59.4% during the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after acquiring an additional 1,396,496 shares during the period. Institutional investors own 96.64% of the company’s stock.

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.