Five9 (NASDAQ:FIVN) Shares Gap Up After Analyst Upgrade

Shares of Five9, Inc. (NASDAQ:FIVN - Get Free Report) gapped up prior to trading on Friday after Rosenblatt Securities raised their price target on the stock from $45.00 to $50.00. The stock had previously closed at $32.81, but opened at $40.10. Rosenblatt Securities currently has a buy rating on the stock. Five9 shares last traded at $38.33, with a volume of 1,318,946 shares traded.

Other research analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $48.00 price objective on shares of Five9 in a report on Friday. Piper Sandler increased their price objective on Five9 from $35.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday. Northland Securities reduced their target price on Five9 from $95.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, August 9th. DA Davidson raised their price objective on shares of Five9 from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Robert W. Baird lowered shares of Five9 from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $90.00 to $40.00 in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.89.

Insiders Place Their Bets

In other 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 value 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the sale, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Daniel P. Burkland sold 2,605 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $33.41, for a total transaction of $87,033.05. Following the completion of the transaction, the executive now owns 132,554 shares in the company, valued at $4,428,629.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,493 shares of company stock valued at $1,097,753. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FIVN. Signaturefd LLC increased its stake in shares of Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker's stock valued at $30,000 after buying an additional 984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Five9 during the 2nd quarter valued at $57,000. Quest Partners LLC bought a new position in Five9 in the 3rd quarter worth $95,000. nVerses Capital LLC purchased a new stake in shares of Five9 in the 3rd quarter worth about $141,000. Finally, Quent Capital LLC boosted its stake in shares of Five9 by 8.7% during the 2nd quarter. Quent Capital LLC now owns 4,379 shares of the software maker's stock valued at $193,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 96.64% of the company's stock.

Five9 Price Performance

The company has a market cap of $2.75 billion, a PE ratio of -51.14 and a beta of 0.85. The firm's 50-day moving average is $29.37 and its 200-day moving average is $39.54. 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 (NASDAQ:FIVN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.14. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. The company had revenue of $252.09 million during the quarter, compared to analyst estimates of $244.54 million. On average, equities analysts anticipate that Five9, Inc. will post -0.09 EPS for the current year.

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.