Royal Bank of Canada Reiterates “Outperform” Rating for Five9 (NASDAQ:FIVN)

Royal Bank of Canada reaffirmed their outperform rating on shares of Five9 (NASDAQ:FIVN) in a research note published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $65.00 target price on the software maker’s stock.

Other analysts also recently issued research reports about the stock. Rosenblatt Securities upped their price target on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays raised their target price on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Morgan Stanley upped their price objective on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald lifted their target price on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Five9 currently has an average rating of “Moderate Buy” and a consensus price target of $56.76.

Five9 Price Performance

Five9 stock opened at $30.14 on Wednesday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -150.69, a PEG ratio of 9.41 and a beta of 1.01. The company has a current ratio of 1.85, a quick 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 stock’s 50 day moving average is $37.28 and its 200-day moving average is $35.71.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate 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 business had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. Equities research analysts expect that Five9 will post 0.28 EPS for the current year.

Insider Activity at Five9

In other Five9 news, CFO Barry Zwarenstein sold 2,468 shares of Five9 stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $82,011.64. Following the transaction, the chief financial officer now directly owns 92,583 shares of the company’s stock, valued at $3,076,533.09. The trade was a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Leena Mansharamani sold 1,517 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $50,409.91. Following the completion of the sale, the chief accounting officer now owns 48,300 shares of the company’s stock, valued at approximately $1,605,009. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,874 shares of company stock valued at $985,446. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in Five9 by 2.4% during the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after buying an additional 259,820 shares during the period. Sylebra Capital LLC grew its holdings in Five9 by 59.4% in the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock worth $152,228,000 after purchasing an additional 1,396,496 shares during the period. Ameriprise Financial Inc. grew its holdings in Five9 by 353.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after purchasing an additional 1,867,137 shares during the period. Norges Bank bought a new position in shares of Five9 during the fourth quarter valued at approximately $81,280,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Five9 by 50.9% during the fourth 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. Hedge funds and other institutional investors 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, 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.