Five9 (NASDAQ:FIVN) Upgraded to “Overweight” at Piper Sandler

Five9 (NASDAQ:FIVN) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a $200.00 price objective on the software maker’s stock, down from their prior price objective of $203.00. Piper Sandler’s target price indicates a potential upside of 15.37% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity cut Five9 from a “buy” rating to a “hold” rating and reduced their target price for the stock from $210.00 to $200.00 in a report on Tuesday, July 20th. Morgan Stanley restated an “equal weight” rating and set a $200.00 target price on shares of Five9 in a report on Tuesday, July 20th. Jefferies Financial Group cut Five9 from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 28th. Truist Financial cut Five9 to a “hold” rating and set a $212.00 target price on the stock. in a report on Monday, August 9th. Finally, Truist Securities cut Five9 from a “buy” rating to a “hold” rating and cut their price objective for the company from $225.00 to $212.00 in a report on Monday, August 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Five9 currently has a consensus rating of “Hold” and an average price target of $200.50.

Shares of NASDAQ:FIVN traded up $5.17 during midday trading on Friday, reaching $173.36. The company’s stock had a trading volume of 58,752 shares, compared to its average volume of 1,091,135. Five9 has a fifty-two week low of $116.93 and a fifty-two week high of $211.68. The company has a market capitalization of $11.74 billion, a P/E ratio of -244.17 and a beta of 0.48. The company has a debt-to-equity ratio of 4.75, a current ratio of 4.80 and a quick ratio of 4.80. The business’s fifty day simple moving average is $184.31 and its 200-day simple moving average is $176.06.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Tuesday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.09. The business had revenue of $143.78 million for the quarter, compared to analysts’ expectations of $132.46 million. Five9 had a negative return on equity of 2.67% and a negative net margin of 9.11%. The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. On average, analysts forecast that Five9 will post -0.22 earnings per share for the current fiscal year.

In other Five9 news, CEO Rowan M. Trollope sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $208.79, for a total transaction of $1,252,740.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Barry Zwarenstein sold 12,500 shares of the stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $186.75, for a total transaction of $2,334,375.00. Following the sale, the chief financial officer now directly owns 90,785 shares of the company’s stock, valued at approximately $16,954,098.75. The disclosure for this sale can be found here. Insiders have sold 42,082 shares of company stock valued at $7,901,238 in the last ninety days. 2.50% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Five9 by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,860,862 shares of the software maker’s stock worth $1,541,549,000 after buying an additional 314,572 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Five9 by 3.6% during the 2nd quarter. BlackRock Inc. now owns 4,214,409 shares of the software maker’s stock worth $772,882,000 after buying an additional 147,507 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Five9 by 1.7% during the 1st quarter. Wasatch Advisors Inc. now owns 2,827,659 shares of the software maker’s stock worth $442,048,000 after buying an additional 47,097 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Five9 by 10,448.9% during the 2nd quarter. Macquarie Group Ltd. now owns 2,318,755 shares of the software maker’s stock worth $425,237,000 after buying an additional 2,296,774 shares in the last quarter. Finally, Waddell & Reed Financial Inc. boosted its holdings in shares of Five9 by 71.2% during the 1st quarter. Waddell & Reed Financial Inc. now owns 2,148,101 shares of the software maker’s stock worth $335,813,000 after buying an additional 893,067 shares in the last quarter. 98.31% of the stock is owned by institutional investors and hedge funds.

About Five9

Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.

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Analyst Recommendations for Five9 (NASDAQ:FIVN)

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