Piper Sandler Reaffirms Overweight Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They currently have a $47.00 target price on the software maker’s stock. Piper Sandler’s target price suggests a potential upside of 35.21% from the stock’s current price.

Several other brokerages also recently weighed in on FIVN. Roth Mkm lowered their target price on Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. UBS Group lowered their price objective on Five9 from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. BTIG Research decreased their price target on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Bank of America upgraded shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, August 5th. Finally, Rosenblatt Securities decreased their price objective on shares of Five9 from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.35.

Five9 Stock Performance

Five9 stock traded up $0.59 during midday trading on Wednesday, hitting $34.76. 237,287 shares of the company’s stock were exchanged, compared to its average volume of 1,398,255. Five9 has a 12-month low of $28.75 and a 12-month high of $92.40. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -40.71 and a beta of 0.82. The firm’s 50 day simple moving average is $41.16 and its 200 day simple moving average is $52.79. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02.

Insider Transactions at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,542 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total transaction of $71,348.34. Following the transaction, the chief accounting officer now owns 38,267 shares of the company’s stock, valued at $1,770,614.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Leena Mansharamani sold 1,542 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.27, for a total value of $71,348.34. Following the transaction, the chief accounting officer now directly owns 38,267 shares in the company, valued at approximately $1,770,614.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Daniel P. Burkland sold 2,637 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $43.55, for a total value of $114,841.35. Following the completion of the sale, the executive now owns 130,079 shares of the company’s stock, valued at approximately $5,664,940.45. The disclosure for this sale can be found here. Insiders have sold a total of 53,385 shares of company stock worth $2,418,755 in the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI lifted its position in Five9 by 46.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after purchasing an additional 144 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Five9 by 139.5% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after buying an additional 279 shares during the period. Headlands Technologies LLC grew its holdings in Five9 by 136.0% in the 4th quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after buying an additional 306 shares in the last quarter. Intrust Bank NA acquired a new stake in Five9 in the 4th quarter valued at approximately $202,000. Finally, Inceptionr LLC acquired a new stake in Five9 in the 4th quarter valued at approximately $215,000. 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 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.