Rosenblatt Securities Forecasts Strong Price Appreciation for Five9 (NASDAQ:FIVN) Stock

Five9 (NASDAQ:FIVN) had its price target hoisted by equities researchers at Rosenblatt Securities from $50.00 to $58.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 37.80% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Robert W. Baird boosted their target price on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Cantor Fitzgerald started coverage on Five9 in a research note on Friday, January 17th. They set an “overweight” rating and a $46.00 target price for the company. Morgan Stanley boosted their target price on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Five9 in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Five9 in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.65.

Five9 Stock Up 1.0 %

FIVN stock opened at $42.09 on Friday. The company has a market cap of $3.17 billion, a PE ratio of -210.44, a price-to-earnings-growth ratio of 9.41 and a beta of 0.93. The business has a 50-day simple moving average of $40.57 and a 200 day simple moving average of $35.88. Five9 has a 52 week low of $26.60 and a 52 week high of $65.71. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The company had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. Sell-side analysts anticipate that Five9 will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Five9

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 transaction of $521,391.60. Following the sale, the chief executive officer now directly owns 240,894 shares in the company, valued at $9,973,011.60. The trade was a 4.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Leena Mansharamani sold 1,346 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total value of $55,630.18. Following the completion of the sale, the chief accounting officer now owns 35,526 shares in the company, valued at $1,468,289.58. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,004 shares of company stock worth $1,209,279. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIVN. Signaturefd LLC raised its stake in Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after acquiring an additional 984 shares during the period. Lindbrook Capital LLC grew its holdings in 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 buying an additional 520 shares in the last quarter. Banque Transatlantique SA purchased a new position in Five9 during the 4th quarter valued at about $36,000. Johnson Financial Group Inc. purchased a new position in Five9 during the 4th quarter valued at about $47,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in 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 buying an additional 1,315 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

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.