Five9 (NASDAQ:FIVN) Stock Price Up 5.7% Following Analyst Upgrade

by · The Cerbat Gem

Five9, Inc. (NASDAQ:FIVN – Get Free Report) rose 5.7% during mid-day trading on Monday after Royal Bank of Canada raised their price target on the stock from $30.00 to $35.00. Royal Bank of Canada currently has an outperform rating on the stock. Five9 traded as high as $26.00 and last traded at $26.25. Approximately 179,244 shares changed hands during trading, a decline of 89% from the average daily volume of 1,644,064 shares. The stock had previously closed at $24.83.

A number of other research firms also recently commented on FIVN. William Blair reissued an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Five9 in a research note on Wednesday, April 2nd. Evercore ISI dropped their price objective on Five9 from $55.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday. Mizuho decreased their target price on Five9 from $55.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their target price on Five9 from $45.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.58.

Check Out Our Latest Report on Five9

Insider Buying and Selling

In other news, CEO Michael Burkland sold 12,595 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $35.63, for a total value of $448,759.85. Following the transaction, the chief executive officer now directly owns 404,056 shares in the company, valued at $14,396,515.28. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Leena Mansharamani sold 1,135 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the sale, the chief accounting officer now owns 47,165 shares of the company’s stock, valued at $1,424,383. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,574 shares of company stock valued at $1,004,346. Insiders own 1.60% of the company’s stock.

Institutional Trading of Five9

Large investors have recently added to or reduced their stakes in the stock. Napatree Capital LLC purchased a new stake in shares of Five9 in the first quarter worth about $659,000. Segall Bryant & Hamill LLC lifted its position in Five9 by 254.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 763,310 shares of the software maker’s stock worth $20,724,000 after acquiring an additional 547,794 shares in the last quarter. Xponance Inc. boosted its holdings in Five9 by 4.4% in the 1st quarter. Xponance Inc. now owns 9,835 shares of the software maker’s stock worth $267,000 after acquiring an additional 414 shares during the period. Harvey Capital Management Inc. grew its position in Five9 by 17.8% in the first quarter. Harvey Capital Management Inc. now owns 57,030 shares of the software maker’s stock valued at $1,548,000 after acquiring an additional 8,620 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Five9 by 55.2% during the first quarter. Envestnet Asset Management Inc. now owns 48,543 shares of the software maker’s stock worth $1,318,000 after purchasing an additional 17,264 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Stock Up 5.8 %

The firm has a market capitalization of $2.00 billion, a PE ratio of -131.17, a P/E/G ratio of 9.41 and a beta of 1.23. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The firm’s 50 day moving average price is $27.45 and its two-hundred day moving average price is $34.91.

Five9 (NASDAQ:FIVN – Get Free Report) last announced its earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $279.71 million during the quarter, compared to the consensus estimate of $272.26 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The company’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. As a group, research analysts forecast that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Five9 Company Profile

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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.

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