Cantor Fitzgerald Initiates Coverage on Five9 (NASDAQ:FIVN)

Cantor Fitzgerald initiated coverage on shares of Five9 (NASDAQ:FIVN - Free Report) in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $46.00 price objective on the software maker's stock.

Several other research analysts also recently weighed in on FIVN. Truist Financial reissued a "buy" rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th. DA Davidson lifted their price target on shares of Five9 from $40.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Morgan Stanley upped their price objective 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. Rosenblatt Securities boosted their target price on shares of Five9 from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Wells Fargo & Company downgraded shares of Five9 from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $55.00 to $40.00 in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

Five9 Price Performance

FIVN stock traded up $0.09 on Friday, reaching $36.69. The company had a trading volume of 850,208 shares, compared to its average volume of 872,963. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The company's fifty day moving average is $40.47 and its 200 day moving average is $36.42. The company has a market cap of $2.76 billion, a P/E ratio of -73.29, a PEG ratio of 8.57 and a beta of 0.92. Five9 has a 1 year low of $26.60 and a 1 year high of $81.24.

Insiders Place Their Bets

In other news, CFO Barry Zwarenstein sold 3,336 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $139,611.60. Following the transaction, the chief financial officer now directly owns 98,396 shares in the company, valued at approximately $4,117,872.60. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total transaction of $320,683.71. Following the sale, the executive vice president now directly owns 69,009 shares of the company's stock, valued at approximately $2,904,588.81. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,004 shares of company stock valued at $1,209,279 in the last quarter. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Five9

A number of large investors have recently bought and sold shares of FIVN. FMR LLC lifted its holdings in shares of Five9 by 2.4% in the 3rd quarter. FMR LLC now owns 11,159,760 shares of the software maker's stock worth $320,620,000 after purchasing an additional 259,820 shares during the last quarter. Sylebra Capital LLC increased its position in Five9 by 28.4% in the second quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker's stock worth $132,908,000 after buying an additional 666,681 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings 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 valued at $47,919,000 after acquiring an additional 210,836 shares during the period. Fisher Asset Management LLC grew its position 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 acquiring an additional 98,543 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Five9 by 347.4% during the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker's stock worth $33,213,000 after acquiring an additional 584,800 shares during the last quarter. Institutional investors own 96.64% of the company's stock.

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.