Five9’s (FIVN) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report published on Friday, Benzinga reports. Rosenblatt Securities currently has a $80.00 price objective on the software maker’s stock.

A number of other equities research analysts also recently issued reports on the stock. Barclays reduced their price objective on shares of Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research report on Thursday, February 22nd. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price target on shares of Five9 in a research report on Friday. Piper Sandler boosted their price objective on Five9 from $84.00 to $86.00 and gave the stock an overweight rating in a research report on Friday, January 12th. Wells Fargo & Company decreased their target price on Five9 from $100.00 to $90.00 and set an overweight rating for the company in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada started coverage on shares of Five9 in a report on Friday, March 15th. They issued an outperform rating and a $80.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $84.88.

Five9 Stock Up 2.0 %

Shares of FIVN opened at $57.88 on Friday. Five9 has a 52 week low of $51.01 and a 52 week high of $92.40. The stock has a 50 day moving average price of $59.98 and a two-hundred day moving average price of $68.53. The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. The business had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. On average, analysts forecast that Five9 will post -0.42 earnings per share for the current year.

Insider Transactions at Five9

In related news, COO Andy Dignan sold 7,340 shares of the business’s stock in a transaction 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 in the company, valued at approximately $7,421,139.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIVN. Arcadia Investment Management Corp MI raised its stake in Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after purchasing an additional 144 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in Five9 by 139.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after purchasing an additional 279 shares during the period. Headlands Technologies LLC grew its stake in shares of 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 during the last quarter. Intrust Bank NA bought a new stake in shares of Five9 in the 4th quarter valued at about $202,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in Five9 by 15.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock valued at $214,000 after acquiring an additional 452 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Five9 Company Profile

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.