Five9’s (FIVN) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report issued on Thursday morning,Benzinga reports. They currently have a $58.00 target price on the software maker’s stock.

Several other equities analysts have also issued reports on FIVN. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Five9 in a report on Monday, March 17th. Cantor Fitzgerald upped their price target on shares of Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Five9 in a report on Wednesday. Barclays upped their price objective on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Morgan Stanley upped their price target on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Five9 has a consensus rating of “Moderate Buy” and an average target price of $56.76.

Five9 Stock Performance

Shares of NASDAQ:FIVN opened at $30.14 on Thursday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -150.69, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01. Five9 has a 52 week low of $26.60 and a 52 week high of $63.79. 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 firm has a 50 day moving average of $37.28 and a 200 day moving average of $35.74.

Five9 (NASDAQ:FIVN) last issued 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 during 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%. On average, sell-side analysts predict that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction that occurred 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 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 represents a 5.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Leena Mansharamani sold 1,135 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the transaction, the chief accounting officer now directly owns 47,165 shares of the company’s stock, valued at $1,424,383. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,874 shares of company stock valued at $985,446 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Five9 by 14.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after buying an additional 210,836 shares in the last quarter. Gagnon Securities LLC lifted its holdings in Five9 by 10.4% during the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after buying an additional 34,597 shares in the last quarter. Vestcor Inc raised its holdings in shares of Five9 by 42.9% in the 3rd quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock valued at $1,437,000 after purchasing an additional 15,000 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Five9 by 14.9% in the 3rd quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock valued at $21,891,000 after purchasing an additional 98,543 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock valued at $6,956,000 after purchasing an additional 165,487 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.