Five9 (NASDAQ:FIVN) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Five9 (NASDAQ:FIVN) in a research report report published on Friday morning, Benzinga reports. They currently have a $90.00 price objective on the software maker’s stock.

A number of other research analysts also recently weighed in on FIVN. Wells Fargo & Company lowered their target price on Five9 from $100.00 to $90.00 and set an overweight rating on the stock in a report on Thursday, February 22nd. Piper Sandler upped their price target on Five9 from $84.00 to $86.00 and gave the stock an overweight rating in a research report on Friday, January 12th. Royal Bank of Canada began coverage on Five9 in a research report on Friday, March 15th. They issued an outperform rating and a $80.00 price target for the company. KeyCorp reduced their price target on Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research report on Thursday, February 22nd. Finally, Canaccord Genuity Group reduced their price target on Five9 from $90.00 to $75.00 and set a buy rating for the company in a research report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $84.88.

Five9 Stock Performance

Shares of NASDAQ:FIVN traded up $1.15 during midday trading on Friday, reaching $57.88. 3,913,144 shares of the company’s stock traded hands, compared to its average volume of 1,140,257. The company has a market cap of $4.27 billion, a price-to-earnings ratio of -68.09 and a beta of 0.85. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.53 and a current ratio of 5.53. Five9 has a one year low of $51.01 and a one year high of $92.40. The stock has a 50 day moving average of $59.98 and a 200 day moving average of $68.46.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. The firm had revenue of $239.06 million for the quarter, compared to the consensus estimate of $237.64 million. Five9 had a negative return on equity of 9.03% and a negative net margin of 6.56%. As a group, equities research analysts anticipate that Five9 will post -0.42 EPS for the current fiscal year.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the transaction, the chief operating officer now owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of large investors have recently bought and sold shares of the business. Arcadia Investment Management Corp MI lifted its holdings in shares of Five9 by 46.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after buying an additional 144 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Five9 by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 31,227 shares of the software maker’s stock worth $2,008,000 after buying an additional 160 shares during the period. Arizona State Retirement System lifted its holdings in shares of Five9 by 0.9% in the 3rd quarter. Arizona State Retirement System now owns 20,266 shares of the software maker’s stock worth $1,303,000 after buying an additional 172 shares during the period. US Bancorp DE lifted its holdings in shares of Five9 by 1.4% in the 4th quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock worth $1,340,000 after buying an additional 228 shares during the period. Finally, Schechter Investment Advisors LLC raised its position in shares of Five9 by 4.5% in the 3rd quarter. Schechter Investment Advisors LLC now owns 6,319 shares of the software maker’s stock worth $406,000 after acquiring an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.