Five9 (NASDAQ:FIVN) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Five9 (NASDAQ:FIVN) in a research report sent to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $48.00 price objective on the software maker’s stock.

Other equities analysts have also issued research reports about the company. Roth Mkm dropped their price objective on Five9 from $90.00 to $67.00 and set a buy rating on the stock in a report on Friday, August 9th. StockNews.com raised Five9 from a sell rating to a hold rating in a research report on Thursday, August 8th. Baird R W downgraded Five9 from a strong-buy rating to a hold rating in a report on Friday, August 9th. Rosenblatt Securities cut their target price on shares of Five9 from $80.00 to $70.00 and set a buy rating on the stock in a report on Friday, August 9th. Finally, Bank of America upgraded shares of Five9 from an underperform rating to a buy rating and set a $63.00 price target for the company in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $63.35.

Five9 Stock Performance

Shares of FIVN opened at $33.77 on Wednesday. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. Five9 has a 52-week low of $28.75 and a 52-week high of $92.40. The stock has a 50 day moving average price of $40.63 and a 200 day moving average price of $52.10. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -39.73 and a beta of 0.82.

Insiders Place Their Bets

In other Five9 news, CEO Michael Burkland sold 12,386 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the completion of the transaction, the chief executive officer now owns 266,083 shares in the company, valued at $12,319,642.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Leena Mansharamani sold 1,542 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total value of $71,348.34. Following the completion of the sale, the chief accounting officer now owns 38,267 shares in the company, valued at $1,770,614.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Burkland sold 12,386 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $573,471.80. Following the transaction, the chief executive officer now owns 266,083 shares in the company, valued at $12,319,642.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,385 shares of company stock worth $2,418,755. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently modified their holdings of FIVN. Arcadia Investment Management Corp MI grew its holdings in shares of Five9 by 46.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after acquiring an additional 144 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings in Five9 by 139.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock valued at $38,000 after purchasing an additional 279 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Five9 by 136.0% in the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock valued at $42,000 after buying an additional 306 shares in the last quarter. Intrust Bank NA purchased a new position in shares of Five9 in the fourth quarter valued at $202,000. Finally, Inceptionr LLC purchased a new stake in shares of Five9 in the 4th quarter worth about $215,000. 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 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.