Five9 (NASDAQ:FIVN) Shares Gap Up Following Analyst Upgrade

Five9, Inc. (NASDAQ:FIVN) gapped up before the market opened on Friday after Piper Sandler raised their price target on the stock from $35.00 to $46.00. The stock had previously closed at $32.81, but opened at $40.10. Piper Sandler currently has an overweight rating on the stock. Five9 shares last traded at $38.33, with a volume of 1,318,946 shares.

A number of other equities analysts also recently issued reports on FIVN. Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Five9 in a research note on Tuesday, August 27th. Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, August 5th. BTIG Research cut their price objective on shares of Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Baird R W lowered shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Rosenblatt Securities lowered their target price on shares of Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Five9 currently has an average rating of “Moderate Buy” and an average target price of $61.94.

Insider Activity

In other news, CRO Daniel P. Burkland sold 2,605 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $33.41, for a total transaction of $87,033.05. Following the transaction, the executive now owns 132,554 shares of the company’s stock, valued at approximately $4,428,629.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Leena Mansharamani sold 1,395 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.51, for a total value of $42,561.45. Following the sale, the chief accounting officer now owns 36,872 shares of the company’s stock, valued at approximately $1,124,964.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Daniel P. Burkland sold 2,605 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.41, for a total value of $87,033.05. Following the completion of the sale, the executive now owns 132,554 shares in the company, valued at $4,428,629.14. 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 three months, insiders sold 36,493 shares of company stock worth $1,097,753. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Five9

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Five9 by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock valued at $461,948,000 after buying an additional 150,786 shares during the period. Sylebra Capital LLC increased its stake in shares of Five9 by 28.4% during the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock worth $132,908,000 after purchasing an additional 666,681 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Five9 by 38.7% in 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 last quarter. Van Berkom & Associates Inc. boosted its holdings in Five9 by 52.3% in the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Five9 by 347.4% during the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after buying an additional 584,800 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Five9 Trading Up 16.7 %

The company has a fifty day simple moving average of $29.37 and a two-hundred day simple moving average of $39.54. The company has a market capitalization of $2.86 billion, a P/E ratio of -52.05 and a beta of 0.85. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.14. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. The company had revenue of $252.09 million for the quarter, compared to the consensus estimate of $244.54 million. On average, analysts forecast that Five9, Inc. will post -0.09 earnings per share for the current fiscal year.

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.