Truist Financial Reaffirms “Buy” Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reissued by Truist Financial in a report issued on Tuesday,Benzinga reports. They presently have a $65.00 target price on the software maker’s stock. Truist Financial’s target price suggests a potential upside of 50.74% from the company’s current price.

A number of other analysts also recently commented on FIVN. Piper Sandler boosted their target price on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley decreased their price objective on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Rosenblatt Securities raised their target price on shares of Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird boosted their price target on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, DA Davidson raised their target price on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Five9 has an average rating of “Moderate Buy” and an average target price of $57.65.

Five9 Price Performance

Five9 stock traded up $0.51 during mid-day trading on Tuesday, reaching $43.12. The company had a trading volume of 507,298 shares, compared to its average volume of 1,507,583. The stock’s 50-day simple moving average is $35.80 and its 200-day simple moving average is $36.69. The company has a market capitalization of $3.24 billion, a P/E ratio of -86.26, a P/E/G ratio of 28.88 and a beta of 0.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. Five9 has a 1 year low of $26.60 and a 1 year high of $82.61.

Insider Activity

In related news, COO Andy Dignan sold 4,109 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $171,961.65. Following the sale, the chief operating officer now directly owns 115,818 shares of the company’s stock, valued at $4,846,983.30. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,346 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total transaction of $55,630.18. Following the completion of the sale, the chief accounting officer now owns 35,526 shares in the company, valued at approximately $1,468,289.58. This trade represents a 3.65 % decrease in their position. 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. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after buying an additional 984 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Five9 during the 2nd quarter worth approximately $57,000. Quest Partners LLC bought a new stake in shares of Five9 in the 3rd quarter worth approximately $95,000. nVerses Capital LLC acquired a new position in Five9 during the 3rd quarter valued at approximately $141,000. Finally, Sanctuary Advisors LLC bought a new position in Five9 during the 3rd quarter worth $145,000. 96.64% of the stock is owned by institutional investors and hedge funds.

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.