Five9’s (FIVN) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reissued their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note released on Tuesday,Benzinga reports. They currently have a $65.00 price target on the software maker’s stock.

FIVN has been the topic of several other research reports. Morgan Stanley cut their price objective on Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Needham & Company LLC boosted their price target on Five9 from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Monday. Rosenblatt Securities upped their price objective on Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company downgraded shares of Five9 from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $55.00 to $40.00 in a research report on Tuesday, November 12th. Finally, DA Davidson upped their price target on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.65.

Five9 Stock Performance

Shares of Five9 stock opened at $42.73 on Tuesday. The company’s 50 day moving average price is $35.80 and its two-hundred day moving average price is $36.69. The firm has a market capitalization of $3.21 billion, a P/E ratio of -85.46, a P/E/G ratio of 28.88 and a beta of 0.92. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $82.61. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Insider Buying and Selling

In other news, COO Andy Dignan sold 4,109 shares of the firm’s 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 completion of the sale, the chief operating officer now owns 115,818 shares of the company’s stock, valued at $4,846,983.30. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Leena Mansharamani sold 1,346 shares of Five9 stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total transaction of $55,630.18. Following the completion of the sale, the chief accounting officer now owns 35,526 shares of the company’s stock, valued at $1,468,289.58. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,004 shares of company stock valued at $1,209,279 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of institutional investors and hedge funds have recently made changes to their positions in FIVN. Sylebra Capital LLC raised its stake in Five9 by 28.4% during the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock worth $132,908,000 after buying an additional 666,681 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Five9 by 347.4% during the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock valued at $33,213,000 after acquiring an additional 584,800 shares in the last quarter. Potrero Capital Research LLC acquired a new position in shares of Five9 during the third quarter worth approximately $15,610,000. Van Berkom & Associates Inc. lifted its holdings in shares of Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Five9 by 38.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after purchasing an additional 406,188 shares during the period. 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.