Rosenblatt Securities Reaffirms “Buy” Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a note issued to investors on Friday,Benzinga reports. They currently have a $58.00 target price on the software maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 152.17% from the stock’s previous close.

FIVN has been the subject of several other reports. Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Five9 in a research report on Tuesday, December 17th. Barclays lifted their target price on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. 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, Morgan Stanley increased their price target on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.76.

Five9 Trading Down 8.9 %

NASDAQ:FIVN opened at $23.00 on Friday. The company’s 50 day moving average price is $35.20 and its 200-day moving average price is $35.71. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9 has a 52 week low of $22.09 and a 52 week high of $63.30. The stock has a market cap 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 announced its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $267.70 million. On average, equities research analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Transactions at Five9

In other news, CAO Leena Mansharamani sold 1,135 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,165 shares of the company’s stock, valued at approximately $1,424,383. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Panos Kozanian sold 7,619 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total transaction of $254,474.60. Following the sale, the executive vice president now directly owns 126,359 shares of the company’s stock, valued at approximately $4,220,390.60. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,574 shares of company stock valued at $1,004,346. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Five9

Several institutional investors have recently added to or reduced their stakes in FIVN. Gagnon Securities LLC raised its stake in Five9 by 10.4% in the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after acquiring an additional 34,597 shares during the last quarter. Vestcor Inc boosted its holdings in Five9 by 42.9% during the third quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after buying an additional 15,000 shares in the last quarter. Barclays PLC boosted its stake in shares of Five9 by 215.8% during the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after acquiring an additional 165,487 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Five9 in the fourth quarter valued at approximately $268,000. Finally, Bullseye Asset Management LLC increased its holdings in Five9 by 13.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 103,768 shares of the software maker’s stock worth $2,981,000 after acquiring an additional 12,500 shares in the last quarter. Institutional investors and hedge funds 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.