Five9 (NASDAQ:FIVN) Price Target Raised to $58.00 at Rosenblatt Securities

Five9 (NASDAQ:FIVN) had its price target upped by Rosenblatt Securities from $50.00 to $58.00 in a research report report published on Friday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the software maker’s stock.

A number of other research firms also recently weighed in on FIVN. Piper Sandler upped their target price on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Robert W. Baird upped their target price on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Wells Fargo & Company downgraded Five9 from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $40.00 in a report on Tuesday, November 12th. Morgan Stanley upped their target price on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Finally, DA Davidson upped their target price on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Five9 Stock Up 1.0 %

NASDAQ FIVN opened at $42.09 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $3.17 billion, a PE ratio of -84.18, a PEG ratio of 9.44 and a beta of 0.93. Five9 has a 1 year low of $26.60 and a 1 year high of $65.71. The business’s 50-day moving average is $40.57 and its 200 day moving average is $35.89.

Five9 (NASDAQ:FIVN) last posted its earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). The business had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative return on equity of 1.53% and a negative net margin of 3.66%. Sell-side analysts forecast that Five9 will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Five9

In other Five9 news, CEO Michael Burkland sold 12,594 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total transaction of $521,391.60. Following the sale, the chief executive officer now directly owns 240,894 shares in the company, valued at approximately $9,973,011.60. This trade represents a 4.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Leena Mansharamani sold 1,346 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total value of $55,630.18. Following the sale, the chief accounting officer now owns 35,526 shares in the company, valued at approximately $1,468,289.58. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,004 shares of company stock worth $1,209,279. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Several hedge funds and other institutional investors have recently modified their holdings of FIVN. Signaturefd LLC lifted its holdings in shares of Five9 by 1,892.3% during the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after buying an additional 984 shares during the period. Horrell Capital Management Inc. bought a new position in shares of Five9 during the 3rd quarter valued at $3,304,000. Janney Montgomery Scott LLC bought a new position in shares of Five9 during the 3rd quarter valued at $811,000. Harvey Capital Management Inc. bought a new position in shares of Five9 during the 3rd quarter valued at $1,717,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Five9 by 51.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,965 shares of the software maker’s stock valued at $1,694,000 after buying an additional 20,040 shares during the period. 96.64% of the stock is owned by institutional investors.

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.