Brokerages Set Five9, Inc. (NASDAQ:FIVN) Price Target at $57.65

Shares of Five9, Inc. (NASDAQ:FIVN) have been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $57.65.

FIVN has been the subject of a number of recent research reports. 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. Rosenblatt Securities increased their price objective on shares of Five9 from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Five9 in a research report on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of Five9 in a research report on Friday, February 21st. Finally, Barclays increased their target price 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.

Five9 Trading Down 2.9 %

Shares of FIVN stock opened at $29.66 on Wednesday. Five9 has a 52-week low of $26.60 and a 52-week high of $63.79. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -148.29, 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. The firm has a fifty day moving average of $38.89 and a 200-day moving average of $35.93.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data 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 business had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. On average, equities research analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Burkland sold 12,595 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total value of $448,759.85. Following the transaction, the chief executive officer now owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Leena Mansharamani sold 1,517 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $50,409.91. Following the completion of the sale, the chief accounting officer now owns 48,300 shares in the company, valued at $1,605,009. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,039 shares of company stock valued at $930,029 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Five9

A number of hedge funds have recently modified their holdings of the company. FMR LLC raised its position in shares of Five9 by 2.4% in the 3rd quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after acquiring an additional 259,820 shares during the period. Sylebra Capital LLC raised its position in shares of Five9 by 59.4% in the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after acquiring an additional 1,396,496 shares during the period. Ameriprise Financial Inc. raised its position in shares of Five9 by 353.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after acquiring an additional 1,867,137 shares during the period. Norges Bank acquired a new stake in shares of Five9 in the 4th quarter valued at approximately $81,280,000. Finally, Wellington Management Group LLP raised its position in shares of Five9 by 50.9% in the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock valued at $72,496,000 after acquiring an additional 601,348 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.