Cantor Fitzgerald Forecasts Strong Price Appreciation for Five9 (NASDAQ:FIVN) Stock

Five9 (NASDAQ:FIVN) had its price target hoisted by equities researchers at Cantor Fitzgerald from $46.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 30.69% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Barclays boosted their target price on shares of Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley boosted their target price on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Piper Sandler boosted their target price on shares of Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday. Robert W. Baird boosted their target price on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.22.

Five9 Stock Up 4.6 %

FIVN stock traded up $1.93 during midday trading on Friday, hitting $43.62. The company’s stock had a trading volume of 4,866,710 shares, compared to its average volume of 1,325,926. The company has a market cap of $3.28 billion, a PE ratio of -87.76, a P/E/G ratio of 9.44 and a beta of 0.93. Five9 has a 12 month low of $26.60 and a 12 month high of $65.71. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average is $40.57 and its 200-day moving average is $35.89.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data 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 business had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative net margin of 3.66% and a negative return on equity of 1.53%. On average, equities research analysts forecast that Five9 will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Five9 news, COO Andy Dignan sold 4,109 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $41.85, for a total value of $171,961.65. Following the completion of the sale, the chief operating officer now owns 115,818 shares in the company, valued at approximately $4,846,983.30. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Barry Zwarenstein sold 3,336 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $41.85, for a total value of $139,611.60. Following the completion of the sale, the chief financial officer now owns 98,396 shares of the company’s stock, valued at $4,117,872.60. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,004 shares of company stock worth $1,209,279. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC boosted its holdings in shares of Five9 by 155.7% during the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock valued at $35,000 after purchasing an additional 520 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Five9 during the 4th quarter valued at about $36,000. Signaturefd LLC boosted its holdings in shares of Five9 by 1,892.3% during the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Five9 during the 4th quarter valued at about $47,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Five9 by 7,305.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock valued at $54,000 after purchasing an additional 1,315 shares during the last quarter. 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.