Five9 (NASDAQ:FIVN) Given New $53.00 Price Target at Piper Sandler

Five9 (NASDAQ:FIVN) had its price objective boosted by Piper Sandler from $46.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target suggests a potential upside of 25.92% from the stock’s current price.

A number of other equities research analysts have also commented on FIVN. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Five9 in a report on Friday. Wells Fargo & Company lowered shares of Five9 from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. DA Davidson upped their price objective on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Finally, Morgan Stanley upped their price objective on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.65.

Five9 Price Performance

Shares of Five9 stock opened at $42.09 on Friday. The company has a fifty day moving average of $40.57 and a 200-day moving average of $35.88. Five9 has a 52-week low of $26.60 and a 52-week high of $65.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -210.44, a price-to-earnings-growth ratio of 9.41 and a beta of 0.93.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The firm had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Equities research analysts expect that Five9 will post 0.28 EPS for the current year.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 4,109 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $171,961.65. Following the sale, the chief operating officer now directly owns 115,818 shares of the company’s stock, valued at $4,846,983.30. This represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Burkland sold 12,594 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total transaction of $521,391.60. Following the sale, the chief executive officer now directly owns 240,894 shares in the company, valued at $9,973,011.60. This trade represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,004 shares of company stock valued at $1,209,279 in the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Five9

Several institutional investors have recently bought and sold shares of FIVN. Norges Bank purchased a new stake in Five9 during the 4th quarter valued at about $81,280,000. Ameriprise Financial Inc. grew its position in Five9 by 353.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after purchasing an additional 1,867,137 shares during the last quarter. Sylebra Capital LLC grew its position in Five9 by 59.4% during the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after purchasing an additional 1,396,496 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Five9 during the 4th quarter valued at about $51,061,000. Finally, Wellington Management Group LLP grew its position in Five9 by 50.9% during the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock valued at $72,496,000 after purchasing an additional 601,348 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, 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.