Needham & Company LLC Reiterates “Buy” Rating for Five9 (NASDAQ:FIVN)

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

A number of other equities analysts have also recently issued reports on FIVN. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 target price on shares of Five9 in a report on Thursday, March 20th. Cantor Fitzgerald increased their price objective on Five9 from $46.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley boosted their target price on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Five9 in a research report on Wednesday, March 19th. Finally, Piper Sandler boosted their price target on shares of Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.76.

Five9 Stock Performance

Shares of NASDAQ FIVN opened at $23.00 on Friday. Five9 has a one year low of $22.09 and a one year high of $63.30. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $35.20 and a 200 day simple moving average of $35.66. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -114.99, a PEG ratio of 9.41 and a beta of 1.29.

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

Insider Activity

In other Five9 news, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the sale, the chief executive officer now directly owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andy Dignan sold 2,840 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $94,373.20. Following the completion of the transaction, the chief operating officer now directly owns 194,201 shares in the company, valued at $6,453,299.23. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,574 shares of company stock valued at $1,004,346 over the last 90 days. 1.80% of the stock is owned by company insiders.

Institutional Trading of Five9

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC boosted its position in shares of Five9 by 155.7% in the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock worth $35,000 after purchasing an additional 520 shares during the last quarter. Banque Transatlantique SA acquired a new position in Five9 in the fourth quarter valued at about $36,000. Johnson Financial Group Inc. acquired a new position in Five9 in the fourth quarter valued at about $47,000. Steward Partners Investment Advisory LLC boosted its holdings in Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock worth $54,000 after buying an additional 1,315 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Five9 by 3,955.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,636 shares of the software maker’s stock worth $107,000 after buying an additional 2,571 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.