Five9's (FIVN) Buy Rating Reiterated at Needham & Company LLC

Five9 (NASDAQ:FIVN - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $52.00 target price on the software maker's stock. Needham & Company LLC's target price would indicate a potential upside of 31.51% from the stock's previous close.

A number of other research analysts have also recently issued reports on FIVN. Robert W. Baird boosted their target price on Five9 from $40.00 to $43.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Cantor Fitzgerald assumed coverage on Five9 in a research report on Friday. They issued an "overweight" rating and a $46.00 price objective for the company. 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. Wells Fargo & Company cut shares of Five9 from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. Finally, Truist Financial restated a "buy" rating and set a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.50.

Five9 Trading Up 5.8 %

Shares of NASDAQ:FIVN traded up $2.15 during midday trading on Tuesday, hitting $39.54. The company had a trading volume of 1,512,695 shares, compared to its average volume of 998,068. The firm has a fifty day simple moving average of $40.44 and a 200 day simple moving average of $36.25. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -79.08, a PEG ratio of 8.53 and a beta of 0.92. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. Five9 has a 12 month low of $26.60 and a 12 month high of $81.24.

Insider Transactions at Five9

In other news, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $42.09, for a total transaction of $320,683.71. Following the completion of the transaction, the executive vice president now directly owns 69,009 shares in the company, valued at approximately $2,904,588.81. The trade was a 9.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Leena Mansharamani sold 1,346 shares of the stock in a transaction on 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 approximately $1,468,289.58. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,004 shares of company stock worth $1,209,279 in the last ninety days. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIVN. Massachusetts Financial Services Co. MA grew its position in 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 worth $47,919,000 after buying an additional 210,836 shares in the last quarter. Scalar Gauge Management LLC bought a new position in shares of Five9 in the second quarter worth $6,990,000. Vestcor Inc increased its position in shares of Five9 by 42.9% in the third quarter. Vestcor Inc now owns 50,000 shares of the software maker's stock worth $1,437,000 after purchasing an additional 15,000 shares during the period. Fisher Asset Management LLC raised its stake in Five9 by 14.9% in the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker's stock valued at $21,891,000 after purchasing an additional 98,543 shares in the last quarter. Finally, Barclays PLC lifted its position in Five9 by 215.8% during the third quarter. Barclays PLC now owns 242,187 shares of the software maker's stock worth $6,956,000 after purchasing an additional 165,487 shares during the period. 96.64% of the stock is owned by 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.