Barclays Boosts Five9 (NASDAQ:FIVN) Price Target to $60.00

Five9 (NASDAQ:FIVN) had its target price upped by stock analysts at Barclays from $55.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Barclays‘s price objective indicates a potential upside of 43.92% from the company’s current price.

FIVN has been the subject of several other research reports. Rosenblatt Securities raised their target price on Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley raised their target price on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. DA Davidson raised their target price on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Piper Sandler raised their target price on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald assumed coverage on Five9 in a research report on Friday, January 17th. They issued an “overweight” rating and a $46.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.22.

Five9 Price Performance

Shares of NASDAQ:FIVN opened at $41.69 on Friday. Five9 has a 1-year low of $26.60 and a 1-year high of $71.43. The firm has a market capitalization of $3.14 billion, a PE ratio of -83.38, a PEG ratio of 9.44 and a beta of 0.93. The business’s 50 day moving average is $40.57 and its 200-day moving average is $35.89. 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 (NASDAQ:FIVN) last announced its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a negative return on equity of 1.53% and a negative net margin of 3.66%. Sell-side analysts predict that Five9 will post 0.11 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Burkland sold 12,594 shares of Five9 stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the completion of the sale, the chief executive officer now directly owns 240,894 shares of the company’s stock, valued at approximately $9,973,011.60. This trade represents a 4.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andy Dignan sold 4,109 shares of Five9 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 sale, the chief operating officer now directly owns 115,818 shares of the company’s stock, valued at approximately $4,846,983.30. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,004 shares of company stock valued at $1,209,279. Company 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 stake in shares of Five9 by 14.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after purchasing an additional 210,836 shares during the period. Gagnon Securities LLC grew its stake in shares of Five9 by 10.4% during the fourth quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after purchasing an additional 34,597 shares during the period. Vestcor Inc grew its stake in shares of Five9 by 42.9% during the third quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after purchasing an additional 15,000 shares during the period. Fisher Asset Management LLC grew its stake in shares of Five9 by 14.9% during the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock worth $21,891,000 after purchasing an additional 98,543 shares during the period. Finally, Barclays PLC grew its stake in shares of Five9 by 215.8% during the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after purchasing an additional 165,487 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

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.