Needham & Company LLC Reiterates “Buy” Rating for Five9 (NASDAQ:FIVN)

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

Several other equities research analysts also recently issued reports on the company. William Blair restated an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price target on shares of Five9 in a research report on Tuesday, December 17th. Piper Sandler lifted their target price on Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Barclays boosted their price target on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price objective on Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.76.

Five9 Price Performance

Five9 stock opened at $30.21 on Monday. 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 firm has a market cap of $2.29 billion, a P/E ratio of -151.04, a P/E/G ratio of 9.41 and a beta of 1.01. The business’s fifty day moving average is $37.61 and its two-hundred day moving average is $35.77. Five9 has a 52 week low of $26.60 and a 52 week high of $63.79.

Five9 (NASDAQ:FIVN) last issued 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). 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 analyst estimates of $267.70 million. Equities research analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Five9 news, EVP Panos Kozanian sold 7,619 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the transaction, the executive vice president now owns 126,359 shares of the company’s stock, valued at $4,220,390.60. This represents a 5.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Leena Mansharamani sold 1,135 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,165 shares of the company’s stock, valued at approximately $1,424,383. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,874 shares of company stock valued at $985,446 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its position in shares of Five9 by 14.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after buying an additional 210,836 shares during the last quarter. Gagnon Securities LLC grew its position in shares of Five9 by 10.4% in the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock valued at $14,878,000 after buying an additional 34,597 shares during the last quarter. Vestcor Inc grew its position in shares of Five9 by 42.9% in the 3rd quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock valued at $1,437,000 after buying an additional 15,000 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Five9 by 14.9% in the 3rd quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock valued at $21,891,000 after buying an additional 98,543 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock valued at $6,956,000 after buying an additional 165,487 shares during the last quarter. 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.