Five9 (NASDAQ:FIVN) Shares Gap Up to $56.73

Five9, Inc. (NASDAQ:FIVN) shares gapped up before the market opened on Friday . The stock had previously closed at $56.73, but opened at $60.76. Five9 shares last traded at $59.10, with a volume of 866,581 shares traded.

Wall Street Analysts Forecast Growth

FIVN has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Five9 in a report on Friday. Royal Bank of Canada began coverage on Five9 in a research report on Friday, March 15th. They issued an “outperform” rating and a $80.00 target price for the company. UBS Group reduced their price target on shares of Five9 from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley dropped their price objective on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, KeyCorp reduced their target price on shares of Five9 from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.88.

Five9 Price Performance

The company has a market capitalization of $4.27 billion, a PE ratio of -68.09 and a beta of 0.85. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. The stock has a fifty day simple moving average of $59.98 and a 200-day simple moving average of $68.49.

Five9 (NASDAQ:FIVN) last posted its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.14. The firm had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. Five9 had a negative return on equity of 9.03% and a negative net margin of 6.56%. Equities analysts anticipate that Five9, Inc. will post -0.42 earnings per share for the current year.

Insider Activity

In related news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction of $420,435.20. Following the sale, the chief operating officer now directly owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FIVN. Arcadia Investment Management Corp MI lifted its stake in Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after buying an additional 144 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in Five9 by 139.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock valued at $38,000 after purchasing an additional 279 shares during the last quarter. Headlands Technologies LLC boosted its stake in Five9 by 136.0% during the 4th quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after purchasing an additional 306 shares during the period. Intrust Bank NA purchased a new position in Five9 during the 4th quarter worth $202,000. Finally, Orion Portfolio Solutions LLC increased its stake in Five9 by 15.7% in the third quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock valued at $214,000 after purchasing an additional 452 shares during the period. Hedge funds and other 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 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.