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

Needham & Company LLC reissued their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note issued to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $52.00 target price on the software maker’s stock.

Several other brokerages have also issued reports on FIVN. Barclays lifted their price target on shares of Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Truist Financial reaffirmed a “buy” rating and set a $65.00 price target on shares of Five9 in a report on Tuesday, December 17th. Morgan Stanley lifted their price target on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Rosenblatt Securities boosted their target price on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Piper Sandler boosted their target price on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Five9 currently has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Five9 Price Performance

FIVN stock opened at $30.23 on Monday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9 has a 12 month low of $26.60 and a 12 month high of $63.79. The firm has a market cap of $2.29 billion, a P/E ratio of -151.14, a P/E/G ratio of 9.41 and a beta of 1.01. The company’s 50-day moving average price is $37.97 and its two-hundred day moving average price is $35.82.

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

Insider Buying and Selling at Five9

In other news, COO Andy Dignan sold 2,840 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $94,373.20. Following the completion of the sale, the chief operating officer now owns 194,201 shares in the company, valued at $6,453,299.23. This represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the sale, the chief executive officer now owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,874 shares of company stock worth $985,446. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Five9

Institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC grew its stake in shares of Five9 by 155.7% in the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock worth $35,000 after acquiring an additional 520 shares in the last quarter. Banque Transatlantique SA bought a new position in Five9 during the fourth quarter valued at about $36,000. Johnson Financial Group Inc. bought a new position in Five9 during the fourth quarter valued at about $47,000. Steward Partners Investment Advisory LLC grew its position in Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock valued at $54,000 after buying an additional 1,315 shares during the period. Finally, Quest Partners LLC bought a new position in Five9 during the third quarter valued at about $95,000. Institutional investors own 96.64% of the company’s stock.

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.