Five9’s (FIVN) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Five9 (NASDAQ:FIVN) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $65.00 price objective on the software maker’s stock.

FIVN has been the subject of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. Rosenblatt Securities raised their price objective on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley boosted their target price 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. Piper Sandler raised their price target on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Barclays upped their price objective on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.76.

Five9 Stock Performance

NASDAQ:FIVN opened at $30.21 on Wednesday. Five9 has a twelve month low of $26.60 and a twelve month high of $63.79. The company has a market cap of $2.29 billion, a P/E ratio of -151.04, a P/E/G ratio of 9.41 and a beta of 1.01. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $37.61 and its 200-day moving average price is $35.77.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share 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 company had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. On average, sell-side analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Andy Dignan sold 2,840 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $94,373.20. Following the sale, the chief operating officer now owns 194,201 shares of the company’s stock, valued at $6,453,299.23. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Leena Mansharamani sold 1,135 shares of Five9 stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the transaction, the chief accounting officer now owns 47,165 shares of the company’s stock, valued at $1,424,383. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,874 shares of company stock worth $985,446. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently modified their holdings of FIVN. Massachusetts Financial Services Co. MA increased its holdings in Five9 by 14.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after buying an additional 210,836 shares during the last quarter. Gagnon Securities LLC increased its holdings in shares of Five9 by 10.4% in the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock valued at $14,878,000 after acquiring an additional 34,597 shares during the last quarter. Vestcor Inc raised its position in shares of Five9 by 42.9% during the 3rd quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after acquiring an additional 15,000 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Five9 by 14.9% during the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock worth $21,891,000 after purchasing an additional 98,543 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Five9 by 215.8% in the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock valued at $6,956,000 after purchasing an additional 165,487 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.