Five9 (NASDAQ:FIVN) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Five9 (NASDAQ:FIVN) in a report published on Wednesday, Benzinga reports. The firm currently has a $47.00 price objective on the software maker’s stock.

A number of other equities research analysts have also commented on FIVN. Wells Fargo & Company decreased their price objective on shares of Five9 from $80.00 to $65.00 and set an overweight rating on the stock in a report on Friday, August 9th. Bank of America raised shares of Five9 from an underperform rating to a buy rating and set a $63.00 price target for the company in a report on Monday, August 5th. Morgan Stanley reduced their price objective on Five9 from $70.00 to $50.00 and set an equal weight rating on the stock in a report on Friday, June 14th. Rosenblatt Securities lowered their target price on Five9 from $80.00 to $70.00 and set a buy rating for the company in a research note on Friday, August 9th. Finally, StockNews.com raised Five9 from a sell rating to a hold rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Five9 currently has a consensus rating of Moderate Buy and a consensus price target of $63.35.

Five9 Trading Down 0.1 %

Shares of FIVN opened at $34.15 on Wednesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -40.18 and a beta of 0.82. The stock has a fifty day moving average price of $40.97 and a two-hundred day moving average price of $52.66. Five9 has a 52-week low of $28.75 and a 52-week high of $92.40.

Insider Activity

In related news, CEO Michael Burkland sold 12,386 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $573,471.80. Following the sale, the chief executive officer now owns 266,083 shares of the company’s stock, valued at approximately $12,319,642.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael Burkland sold 12,386 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andy Dignan sold 5,731 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $265,345.30. Following the sale, the chief operating officer now owns 124,172 shares in the company, valued at $5,749,163.60. The disclosure for this sale can be found here. Insiders sold 53,385 shares of company stock valued at $2,418,755 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FIVN. Norges Bank bought a new stake in Five9 during the 4th quarter worth about $79,035,000. Sylebra Capital LLC increased its position in shares of Five9 by 28.4% in the second quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after acquiring an additional 666,681 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Five9 by 347.4% during the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after acquiring an additional 584,800 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in Five9 by 52.3% during the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after purchasing an additional 446,151 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Five9 by 38.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after purchasing an additional 406,188 shares in the last quarter. 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. 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.