Five9 (NASDAQ:FIVN) Given New $46.00 Price Target at Piper Sandler

Five9 (NASDAQ:FIVN - Get Free Report) had its price objective hoisted by equities research analysts at Piper Sandler from $35.00 to $46.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the software maker's stock. Piper Sandler's price target would suggest a potential upside of 25.51% from the stock's previous close.

Several other brokerages have also recently weighed in on FIVN. Robert W. Baird cut Five9 from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $90.00 to $40.00 in a report on Friday, August 9th. StockNews.com raised shares of Five9 from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Northland Securities decreased their price objective on Five9 from $95.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, August 9th. Rosenblatt Securities reduced their target price on Five9 from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley lowered their price target on Five9 from $45.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, October 15th. Five 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 presently has a consensus rating of "Moderate Buy" and an average target price of $61.00.

Five9 Stock Up 11.7 %

Shares of FIVN stock traded up $3.84 on Friday, hitting $36.65. The stock had a trading volume of 5,701,501 shares, compared to its average volume of 1,480,092. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39. Five9 has a one year low of $26.60 and a one year high of $92.40. The business has a 50 day moving average price of $29.37 and a 200 day moving average price of $39.54. The company has a market cap of $2.74 billion, a PE ratio of -51.78 and a beta of 0.85.

Five9 (NASDAQ:FIVN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) EPS 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 analyst estimates of $244.54 million. Research analysts anticipate that Five9 will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Barry Zwarenstein sold 4,408 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total transaction of $118,883.76. Following the sale, the chief financial officer now owns 101,732 shares in the company, valued at $2,743,712.04. This trade 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 is available through this link. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total transaction of $118,883.76. Following the completion of the sale, the chief financial officer now owns 101,732 shares of the company's stock, valued at approximately $2,743,712.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Panos Kozanian sold 7,617 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total transaction of $228,662.34. Following the completion of the transaction, the executive vice president now owns 76,628 shares of the company's stock, valued at $2,300,372.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,493 shares of company stock valued at $1,097,753. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Five9

Hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in shares of Five9 in the 2nd quarter worth about $2,177,000. Scalar Gauge Management LLC bought a new stake in shares of Five9 during the second quarter valued at approximately $6,990,000. King Luther Capital Management Corp acquired a new position in shares of Five9 during the second quarter worth approximately $2,062,000. Van Berkom & Associates Inc. grew its holdings in Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker's stock worth $57,307,000 after buying an additional 446,151 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Five9 in the 3rd quarter worth approximately $1,714,000. 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.