Canaccord Genuity Group Reaffirms “Buy” Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $90.00 price objective on the software maker’s stock. Canaccord Genuity Group’s price target points to a potential upside of 40.45% from the stock’s previous close.

Several other brokerages have also recently weighed in on FIVN. KeyCorp raised their price target on shares of Five9 from $81.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. Piper Sandler upped their price objective on Five9 from $89.00 to $94.00 in a report on Tuesday, August 8th. Rosenblatt Securities reissued a “buy” rating and set a $105.00 price target on shares of Five9 in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Five9 in a research report on Tuesday, August 8th. Finally, Roth Capital reissued a “buy” rating on shares of Five9 in a research note on Tuesday, May 23rd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.82.

Five9 Trading Down 1.8 %

Shares of FIVN opened at $64.08 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 5.32 and a current ratio of 5.32. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -53.40 and a beta of 0.76. Five9 has a 52-week low of $46.61 and a 52-week high of $89.58. The stock has a fifty day moving average price of $75.89 and a two-hundred day moving average price of $70.42.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Monday, August 7th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.12. The firm had revenue of $222.88 million for the quarter, compared to analysts’ expectations of $214.11 million. Five9 had a negative net margin of 10.12% and a negative return on equity of 17.08%. Analysts predict that Five9 will post -1.06 EPS for the current fiscal year.

Insider Transactions at Five9

In related news, CEO Michael Burkland sold 53,671 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $80.00, for a total value of $4,293,680.00. Following the completion of the sale, the chief executive officer now owns 187,416 shares of the company’s stock, valued at approximately $14,993,280. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CRO Daniel P. Burkland sold 8,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $82.36, for a total value of $658,880.00. Following the completion of the sale, the executive now owns 109,875 shares of the company’s stock, valued at $9,049,305. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Burkland sold 53,671 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $80.00, for a total transaction of $4,293,680.00. Following the completion of the sale, the chief executive officer now directly owns 187,416 shares of the company’s stock, valued at approximately $14,993,280. The disclosure for this sale can be found here. Insiders sold a total of 82,171 shares of company stock valued at $6,739,850 in the last three months. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Five9

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its position in shares of Five9 by 54.2% during the fourth quarter. First Horizon Advisors Inc. now owns 404 shares of the software maker’s stock valued at $27,000 after acquiring an additional 142 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Five9 by 1,013.2% in the 4th quarter. Quadrant Capital Group LLC now owns 423 shares of the software maker’s stock valued at $29,000 after purchasing an additional 385 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Five9 in the first quarter valued at approximately $41,000. Neo Ivy Capital Management lifted its stake in Five9 by 117.6% during the second quarter. Neo Ivy Capital Management now owns 470 shares of the software maker’s stock worth $42,000 after purchasing an additional 254 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Five9 during the first quarter worth $43,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Five9 Company Profile

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally. The company offers 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.