Five9 (NASDAQ:FIVN) Stock Price Up 6.5% - Here's Why

Five9, Inc. (NASDAQ:FIVN - Get Free Report)'s stock price shot up 6.5% during mid-day trading on Tuesday . The stock traded as high as $39.52 and last traded at $39.83. 253,383 shares traded hands during trading, a decline of 72% from the average session volume of 914,640 shares. The stock had previously closed at $37.39.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial reiterated a "buy" rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Morgan Stanley raised their price objective on shares of Five9 from $40.00 to $46.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. Piper Sandler upped their target price on shares of Five9 from $35.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Robert W. Baird lifted their price target on shares of Five9 from $40.00 to $43.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. Finally, DA Davidson upped their price objective 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. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Five9 currently has an average rating of "Moderate Buy" and an average target price of $57.50.

Five9 Price Performance

The company has a 50 day moving average price of $40.44 and a 200 day moving average price of $36.25. 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 firm has a market cap of $2.97 billion, a PE ratio of -79.08, a PEG ratio of 8.53 and a beta of 0.92.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The software maker reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.43). The firm had revenue of $264.18 million for the quarter, compared to analysts' expectations of $254.82 million. Five9 had a negative return on equity of 1.53% and a negative net margin of 3.66%. During the same quarter in the previous year, the company posted ($0.21) EPS. Sell-side analysts expect that Five9, Inc. will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,346 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was 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 of the company's stock, valued at approximately $1,468,289.58. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 69,009 shares in the company, valued at approximately $2,904,588.81. This trade represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,004 shares of company stock valued at $1,209,279. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Five9

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in Five9 by 14.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker's stock valued at $47,919,000 after purchasing an additional 210,836 shares in the last quarter. Scalar Gauge Management LLC acquired a new stake in Five9 in the second quarter valued at $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 valued at $1,437,000 after buying an additional 15,000 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Five9 by 14.9% during the 3rd quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker's stock worth $21,891,000 after buying an additional 98,543 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker's stock worth $6,956,000 after buying an additional 165,487 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.