Five9 (NASDAQ:FIVN) Receives Buy Rating from Rosenblatt Securities

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $58.00 target price on the software maker’s stock. Rosenblatt Securities’ price target points to a potential upside of 91.99% from the company’s previous close.

Several other brokerages have also issued reports on FIVN. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Five9 in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Five9 in a report on Wednesday. Barclays increased 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. Piper Sandler lifted their price target on Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Five9 presently has an average rating of “Moderate Buy” and an average target price of $56.76.

Five9 Stock Up 1.1 %

FIVN opened at $30.21 on Thursday. The firm has a market capitalization of $2.29 billion, a P/E ratio of -151.04, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01. Five9 has a one year low of $26.60 and a one year high of $63.79. The company has a fifty day moving average price of $37.61 and a 200-day moving average price of $35.77. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN) last posted its earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The business had revenue of $278.66 million for the quarter, compared to analysts’ expectations of $267.70 million. Equities research analysts expect that Five9 will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Five9 news, CAO Leena Mansharamani sold 1,517 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $50,409.91. Following the completion of the transaction, the chief accounting officer now owns 48,300 shares in the company, valued at approximately $1,605,009. This represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Barry Zwarenstein sold 2,468 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total transaction of $82,011.64. Following the sale, the chief financial officer now owns 92,583 shares in the company, valued at approximately $3,076,533.09. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,874 shares of company stock worth $985,446. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Five9

Hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its stake in Five9 by 155.7% during the fourth quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after buying an additional 520 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Five9 during the fourth quarter valued at $36,000. Johnson Financial Group Inc. purchased a new position in shares of Five9 in the 4th quarter worth about $47,000. Steward Partners Investment Advisory LLC boosted its stake in Five9 by 7,305.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock worth $54,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Five9 during the 3rd quarter valued at about $95,000. 96.64% of the stock is owned by institutional investors.

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.