Five9 (NASDAQ:FIVN) Given New $53.00 Price Target at Piper Sandler

Five9 (NASDAQ:FIVN) had its price objective increased by Piper Sandler from $46.00 to $53.00 in a research note published on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the software maker’s stock.

FIVN has been the subject of several other research reports. Rosenblatt Securities raised their price objective on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird lifted their price target on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price target on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald initiated coverage on shares of Five9 in a research note on Friday, January 17th. They set an “overweight” rating and a $46.00 price target for the company. Finally, DA Davidson lifted their price target on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Six equities 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 has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Five9 Stock Up 1.0 %

Shares of NASDAQ FIVN opened at $42.09 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $3.17 billion, a P/E ratio of -84.18, a PEG ratio of 9.44 and a beta of 0.93. Five9 has a 1 year low of $26.60 and a 1 year high of $65.71. The firm has a 50-day simple moving average of $40.57 and a two-hundred day simple moving average of $35.89.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data 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). The firm had revenue of $278.66 million during the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative return on equity of 1.53% and a negative net margin of 3.66%. Research analysts anticipate that Five9 will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In other Five9 news, CEO Michael Burkland sold 12,594 shares of Five9 stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total value of $521,391.60. Following the transaction, the chief executive officer now directly owns 240,894 shares of the company’s stock, valued at approximately $9,973,011.60. The trade was a 4.97 % 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 the SEC website. Also, CFO Barry Zwarenstein sold 3,336 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 transaction of $139,611.60. Following the completion of the transaction, the chief financial officer now directly owns 98,396 shares in the company, valued at $4,117,872.60. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Five9

A number of large investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Five9 by 2.4% during the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after buying an additional 259,820 shares during the last quarter. Sylebra Capital LLC grew its holdings in shares of Five9 by 59.4% during the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after buying an additional 1,396,496 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Five9 by 353.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after buying an additional 1,867,137 shares during the last quarter. Norges Bank purchased a new stake in shares of Five9 during the fourth quarter valued at $81,280,000. Finally, Wellington Management Group LLP grew its holdings in shares of Five9 by 50.9% during the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock valued at $72,496,000 after buying an additional 601,348 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

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.