Five9 (NASDAQ:FIVN) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note issued to investors on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $58.00 price objective on the software maker’s stock.

A number of other brokerages also recently issued reports on FIVN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Five9 in a research report on Wednesday. Barclays lifted their target price on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Five9 in a research note on Monday. Cantor Fitzgerald lifted their target price on shares of Five9 from $46.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.76.

Five9 Trading Down 1.9 %

NASDAQ FIVN opened at $29.63 on Thursday. The company’s 50-day simple moving average is $37.42 and its two-hundred day simple moving average is $35.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. Five9 has a one year low of $26.60 and a one year high of $63.79. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -148.14, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01.

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

Insider Activity at Five9

In related news, COO Andy Dignan sold 2,840 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $94,373.20. Following the completion of the transaction, the chief operating officer now directly owns 194,201 shares in the company, valued at $6,453,299.23. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the transaction, the chief executive officer now owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,874 shares of company stock worth $985,446 in the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Five9 by 14.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after purchasing an additional 210,836 shares during the period. Gagnon Securities LLC increased its holdings in Five9 by 10.4% in the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after acquiring an additional 34,597 shares in the last quarter. Vestcor Inc increased its holdings in Five9 by 42.9% in the 3rd quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after acquiring an additional 15,000 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Five9 by 14.9% in the 3rd quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock worth $21,891,000 after acquiring an additional 98,543 shares in the last quarter. Finally, Barclays PLC increased its holdings in Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after acquiring an additional 165,487 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.