Rosenblatt Securities Reaffirms “Buy” Rating for Five9 (NASDAQ:FIVN)

Rosenblatt Securities reaffirmed their buy rating on shares of Five9 (NASDAQ:FIVN) in a report published on Friday,Benzinga reports. They currently have a $58.00 price target on the software maker’s stock.

A number of other equities analysts have also recently issued reports on FIVN. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price on shares of Five9 in a report on Tuesday, December 17th. Piper Sandler raised their price objective on shares of Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Five9 in a report on Wednesday, March 19th. Barclays raised their price target on shares of Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald increased their price objective on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.76.

Five9 Stock Performance

Five9 stock opened at $23.00 on Friday. The stock has a market cap of $1.74 billion, a PE ratio of -114.99, a P/E/G ratio of 9.41 and a beta of 1.29. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9 has a 12-month low of $22.09 and a 12-month high of $63.30. The business’s 50-day moving average price is $35.20 and its two-hundred day moving average price is $35.66.

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

Insider Transactions at Five9

In related news, CEO Michael Burkland sold 12,595 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $35.63, for a total value of $448,759.85. Following the transaction, the chief executive officer now directly owns 404,056 shares in the company, valued at $14,396,515.28. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total transaction of $254,474.60. Following the sale, the executive vice president now owns 126,359 shares of the company’s stock, valued at $4,220,390.60. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,574 shares of company stock valued at $1,004,346 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FIVN. Sylebra Capital LLC lifted its position in Five9 by 59.4% in the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after acquiring an additional 1,396,496 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Five9 by 353.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after purchasing an additional 1,867,137 shares in the last quarter. Norges Bank purchased a new position in shares of Five9 during the fourth quarter valued at approximately $81,280,000. Wellington Management Group LLP grew its holdings in Five9 by 50.9% during the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after buying an additional 601,348 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Five9 by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker’s stock valued at $53,558,000 after buying an additional 105,265 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.