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

Needham & Company LLC reissued their buy rating on shares of Five9 (NASDAQ:FIVN) in a research report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $48.00 target price on the software maker’s stock.

FIVN has been the topic of a number of other reports. Wells Fargo & Company dropped their price target on shares of Five9 from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Piper Sandler raised their price objective on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America upgraded shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday, August 5th. Roth Mkm decreased their price objective on shares of Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Baird R W downgraded shares of Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.06.

Five9 Stock Up 7.7 %

FIVN opened at $39.67 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15. The company’s 50-day moving average is $29.46 and its 200 day moving average is $39.09. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $92.40. The firm has a market capitalization of $2.96 billion, a P/E ratio of -79.34 and a beta of 0.85.

Insider Transactions at Five9

In other news, CAO Leena Mansharamani sold 1,395 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the completion of the sale, the chief accounting officer now directly owns 36,872 shares in the company, valued at approximately $1,124,964.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.27, for a total value of $381,250.65. Following the transaction, the chief executive officer now directly owns 253,488 shares of the company’s stock, valued at $7,673,081.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Leena Mansharamani sold 1,395 shares of Five9 stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the transaction, the chief accounting officer now directly owns 36,872 shares in the company, valued at approximately $1,124,964.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,493 shares of company stock worth $1,097,753. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sylebra Capital LLC increased its position in Five9 by 28.4% during the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after purchasing an additional 666,681 shares during the period. Point72 Asset Management L.P. increased its position in Five9 by 347.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock valued at $33,213,000 after purchasing an additional 584,800 shares during the period. Van Berkom & Associates Inc. increased its position in Five9 by 52.3% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after purchasing an additional 446,151 shares during the period. Massachusetts Financial Services Co. MA increased its position in Five9 by 38.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after purchasing an additional 406,188 shares during the period. Finally, 272 Capital LP purchased a new stake in shares of Five9 in the 2nd quarter worth about $12,722,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Company Profile

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.