Five9 (NASDAQ:FIVN) Shares Gap Up on Analyst Upgrade

Five9, Inc. (NASDAQ:FIVN)’s stock price gapped up prior to trading on Friday after Rosenblatt Securities raised their price target on the stock from $45.00 to $50.00. The stock had previously closed at $32.81, but opened at $40.10. Rosenblatt Securities currently has a buy rating on the stock. Five9 shares last traded at $38.33, with a volume of 1,318,946 shares changing hands.

FIVN has been the topic of several other research reports. Barclays cut their target price on Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of Five9 from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Baird R W cut shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Robert W. Baird downgraded shares of Five9 from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $90.00 to $40.00 in a research note on Friday, August 9th. Finally, Roth Mkm cut their price target on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Five9 has a consensus rating of “Moderate Buy” and an average target price of $59.89.

Insider Buying and Selling

In related news, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the transaction, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the sale, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Panos Kozanian sold 7,617 shares of Five9 stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total value of $228,662.34. Following the transaction, the executive vice president now owns 76,628 shares of the company’s stock, valued at $2,300,372.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,493 shares of company stock valued at $1,097,753 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Five9

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sylebra Capital LLC grew its position in shares of Five9 by 28.4% during the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after acquiring an additional 666,681 shares during the period. Point72 Asset Management L.P. grew its holdings in Five9 by 347.4% in the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock valued at $33,213,000 after purchasing an additional 584,800 shares during the period. Van Berkom & Associates Inc. grew its holdings in Five9 by 52.3% in the second quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock valued at $57,307,000 after purchasing an additional 446,151 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Five9 by 38.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after buying an additional 406,188 shares in the last quarter. Finally, 272 Capital LP acquired a new position in shares of Five9 during the 2nd quarter worth approximately $12,722,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

Five9 Stock Up 12.2 %

The business has a 50-day moving average price of $29.46 and a 200-day moving average price of $39.39. The stock has a market cap of $2.75 billion, a PE ratio of -51.14 and a beta of 0.85. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.14. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. The firm had revenue of $252.09 million during the quarter, compared to the consensus estimate of $244.54 million. As a group, analysts forecast that Five9, Inc. will post -0.09 earnings per share for the current year.

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.