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

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $52.00 target price on the software maker’s stock. Needham & Company LLC’s price target suggests a potential upside of 74.03% from the company’s current price.

A number of other equities analysts have also commented on the stock. Piper Sandler lifted 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. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a research note on Tuesday, December 17th. Barclays raised their price objective on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Rosenblatt Securities raised their price objective on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald raised their price objective on shares of Five9 from $46.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Five9 Trading Down 1.2 %

NASDAQ:FIVN opened at $29.88 on Monday. The stock’s 50 day moving average price is $37.79 and its 200 day moving average price is $35.81. Five9 has a 52 week low of $26.60 and a 52 week high of $63.79. The company has a market capitalization of $2.27 billion, a P/E ratio of -149.39, a P/E/G ratio of 9.41 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85.

Five9 (NASDAQ:FIVN) last announced its quarterly 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). Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The company had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. On average, research analysts forecast that Five9 will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the sale, the executive vice president now owns 126,359 shares in the company, valued at approximately $4,220,390.60. The trade was a 5.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were 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 owns 404,056 shares in the company, valued at $14,396,515.28. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,874 shares of company stock worth $985,446. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Five9 by 2.4% in the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after buying an additional 259,820 shares during the last quarter. Sylebra Capital LLC raised its holdings in shares of Five9 by 59.4% in the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after buying an additional 1,396,496 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Five9 by 353.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after buying an additional 1,867,137 shares during the last quarter. Norges Bank bought a new position in shares of Five9 in the fourth quarter valued at about $81,280,000. Finally, Wellington Management Group LLP raised its holdings in shares of 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. 96.64% of the stock is owned by institutional investors.

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.