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

Five9, Inc. (NASDAQ:FIVN) gapped up before the market opened on Friday after Rosenblatt Securities raised their price target on the stock from $45.00 to $50.00. The stock had previously closed at $32.81, but opened at $40.10. Rosenblatt Securities currently has a buy rating on the stock. Five9 shares last traded at $38.33, with a volume of 1,318,946 shares traded.

Several other research analysts have also recently weighed in on FIVN. BTIG Research lowered their price target on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company decreased their target price on shares of Five9 from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Baird R W lowered shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Bank of America upgraded Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, August 5th. Finally, StockNews.com raised Five9 from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.89.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 4,245 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total value of $128,453.70. Following the completion of the transaction, the chief operating officer now owns 119,927 shares of the company’s stock, valued at approximately $3,628,991.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Andy Dignan sold 4,245 shares of Five9 stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total value of $128,453.70. Following the completion of the transaction, the chief operating officer now directly owns 119,927 shares in the company, valued at approximately $3,628,991.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total value of $118,883.76. Following the transaction, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at $2,743,712.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,493 shares of company stock worth $1,097,753 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Several hedge funds have recently added to or reduced their stakes in the company. Sylebra Capital LLC grew its holdings in 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 acquiring an additional 666,681 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Five9 by 347.4% in 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 in the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Five9 by 52.3% during the 2nd 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 during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Five9 by 38.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after purchasing an additional 406,188 shares in the last quarter. Finally, 272 Capital LP purchased a new position in Five9 in the second quarter valued at $12,722,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Five9 Stock Performance

The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -51.14 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. The stock has a 50 day simple moving average of $29.46 and a two-hundred day simple moving average of $39.39.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. The business had revenue of $252.09 million for the quarter, compared to the consensus estimate of $244.54 million. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. As a group, analysts anticipate that Five9, Inc. will post -0.09 earnings per share for the current 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.