Brokerages Set Five9, Inc. (NASDAQ:FIVN) Target Price at $63.35

Five9, Inc. (NASDAQ:FIVN) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $63.35.

A number of equities research analysts have issued reports on FIVN shares. Piper Sandler reissued an “overweight” rating and set a $47.00 target price on shares of Five9 in a report on Wednesday, August 21st. Baird R W cut Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Bank of America raised Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, August 5th. Roth Mkm lowered their price target on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Morgan Stanley cut their price objective on shares of Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th.

Five9 Stock Up 2.4 %

Shares of NASDAQ FIVN opened at $28.49 on Wednesday. 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 market capitalization of $2.13 billion, a PE ratio of -33.52 and a beta of 0.86. Five9 has a one year low of $26.60 and a one year high of $92.40. The business’s fifty day moving average price is $37.18 and its 200-day moving average price is $47.88.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate 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 net margin of 5.44% and a negative return on equity of 6.59%. On average, equities research analysts anticipate that Five9 will post -0.09 EPS for the current year.

Insider Transactions at Five9

In related news, EVP Panos Kozanian sold 7,617 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction of $228,662.34. Following the transaction, the executive vice president now directly owns 76,628 shares of the company’s stock, valued at approximately $2,300,372.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Five9 news, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $30.27, for a total transaction of $381,250.65. Following the completion of the sale, the chief executive officer now directly owns 253,488 shares in the company, valued at $7,673,081.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Panos Kozanian sold 7,617 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total value of $228,662.34. Following the transaction, the executive vice president now directly owns 76,628 shares in the company, valued at $2,300,372.56. The disclosure for this sale can be found here. In the last three months, insiders sold 45,337 shares of company stock worth $1,491,971. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Five9

Several institutional investors have recently bought and sold shares of FIVN. Sylebra Capital LLC increased its stake in Five9 by 28.4% in 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 period. Clearline Capital LP bought a new position in shares of Five9 in the second quarter worth approximately $1,606,000. Dark Forest Capital Management LP bought a new position in shares of Five9 in the second quarter worth approximately $336,000. Armistice Capital LLC increased its stake in shares of Five9 by 56.7% in the second quarter. Armistice Capital LLC now owns 722,582 shares of the software maker’s stock worth $31,866,000 after buying an additional 261,476 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Five9 during the 2nd quarter valued at $411,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.