Five9 (NASDAQ:FIVN) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $90.00 price target on the software maker’s stock.

A number of other research firms also recently commented on FIVN. Piper Sandler upped their price objective on shares of Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research note on Friday, January 12th. KeyCorp dropped their target price on shares of Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research report on Thursday, February 22nd. Morgan Stanley dropped their target price on shares of Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada initiated coverage on shares of Five9 in a research report on Friday, March 15th. They set an outperform rating and a $80.00 target price for the company. Finally, Canaccord Genuity Group dropped their target price on shares of Five9 from $90.00 to $75.00 and set a buy rating for the company in a research report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $84.88.

Five9 Trading Up 2.0 %

Shares of NASDAQ FIVN traded up $1.15 on Friday, reaching $57.88. 3,913,144 shares of the company traded hands, compared to its average volume of 1,140,257. Five9 has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The company has a 50 day moving average of $59.98 and a 200 day moving average of $68.46. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $4.27 billion, a PE ratio of -68.09 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.03%. The company had revenue of $239.06 million during the quarter, compared to the consensus estimate of $237.64 million. On average, equities research analysts forecast that Five9 will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total transaction of $420,435.20. Following the sale, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at approximately $7,421,139.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI boosted its stake in Five9 by 46.8% during the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after buying an additional 144 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Five9 by 139.5% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock valued at $38,000 after buying an additional 279 shares in the last quarter. Headlands Technologies LLC boosted its stake in Five9 by 136.0% during 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 bought a new position in Five9 during the fourth quarter valued at about $202,000. Finally, Orion Portfolio Solutions LLC boosted its stake in Five9 by 15.7% during the third quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock valued at $214,000 after buying an additional 452 shares in the last quarter. 96.64% of the stock is 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.