Needham & Company LLC Reiterates Buy Rating for Five9 (NASDAQ:FIVN)

Needham & Company LLC reiterated their buy rating on shares of Five9 (NASDAQ:FIVN - Free Report) in a report issued on Monday morning,Benzinga reports. They currently have a $52.00 price objective on the software maker's stock.

A number of other equities research analysts have also recently commented on the company. Truist Financial reissued a "buy" rating and set a $65.00 price target on shares of Five9 in a report on Tuesday, December 17th. Cantor Fitzgerald boosted their price target on Five9 from $46.00 to $57.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Barclays increased their price objective on shares of Five9 from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, February 21st. William Blair restated an "outperform" rating on shares of Five9 in a research report on Thursday, March 13th. Finally, Morgan Stanley lifted their price objective on shares of Five9 from $40.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.76.

Five9 Stock Performance

Shares of FIVN traded up $0.51 on Monday, reaching $30.14. The company's stock had a trading volume of 1,318,687 shares, compared to its average volume of 1,525,857. The stock's 50 day simple moving average is $37.42 and its two-hundred day simple moving average is $35.73. 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 stock has a market capitalization of $2.28 billion, a P/E ratio of -150.69, a PEG ratio of 9.41 and a beta of 1.01. Five9 has a 12-month low of $26.60 and a 12-month high of $63.79.

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Five9 (NASDAQ:FIVN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.44). Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The business had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Research analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In related news, EVP Panos Kozanian sold 7,619 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the transaction, the executive vice president now owns 126,359 shares of the company's stock, valued at $4,220,390.60. The trade was a 5.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andy Dignan sold 2,840 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.23, for a total value of $94,373.20. Following the sale, the chief operating officer now directly owns 194,201 shares in the company, valued at $6,453,299.23. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,874 shares of company stock valued at $985,446 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Five9

Several hedge funds and other institutional investors have recently made changes to their positions in FIVN. FMR LLC raised its stake in Five9 by 2.4% in 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 boosted its stake in Five9 by 59.4% in the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker's stock worth $152,228,000 after purchasing an additional 1,396,496 shares in the last quarter. Ameriprise Financial Inc. grew its position in Five9 by 353.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker's stock worth $97,356,000 after purchasing an additional 1,867,137 shares during the last quarter. Norges Bank acquired a new position in Five9 during the 4th quarter valued at approximately $81,280,000. Finally, Wellington Management Group LLP raised its holdings in shares of Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker's stock worth $72,496,000 after buying an additional 601,348 shares during the last quarter. Hedge funds and other 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.