Rosenblatt Securities Forecasts Strong Price Appreciation for Five9 (NASDAQ:FIVN) Stock

Five9 (NASDAQ:FIVN) had its price target hoisted by analysts at Rosenblatt Securities from $50.00 to $58.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 39.12% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Morgan Stanley increased their price objective on shares of Five9 from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Piper Sandler increased their target price on shares of Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird increased their target price on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Five9 in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company downgraded shares of Five9 from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $55.00 to $40.00 in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.22.

Five9 Price Performance

FIVN stock opened at $41.69 on Friday. Five9 has a 52 week low of $26.60 and a 52 week high of $71.43. 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 company has a fifty day simple moving average of $40.57 and a two-hundred day simple moving average of $35.89. The firm has a market capitalization of $3.14 billion, a P/E ratio of -83.38, a price-to-earnings-growth ratio of 9.44 and a beta of 0.93.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a negative net margin of 3.66% and a negative return on equity of 1.53%. Analysts anticipate that Five9 will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In other Five9 news, CFO Barry Zwarenstein sold 3,336 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total transaction of $139,611.60. Following the transaction, the chief financial officer now owns 98,396 shares of the company’s stock, valued at approximately $4,117,872.60. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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 $2,904,588.81. This trade represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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 Trading of Five9

A number of institutional investors have recently modified their holdings of FIVN. Signaturefd LLC boosted its holdings 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 valued at $30,000 after buying an additional 984 shares in the last quarter. Horrell Capital Management Inc. acquired a new stake in Five9 during the 3rd quarter valued at approximately $3,304,000. Janney Montgomery Scott LLC acquired a new stake in Five9 during the 3rd quarter valued at approximately $811,000. Harvey Capital Management Inc. acquired a new stake in Five9 during the 3rd quarter valued at approximately $1,717,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in Five9 by 51.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,965 shares of the software maker’s stock valued at $1,694,000 after acquiring an additional 20,040 shares during the period. 96.64% of the stock is currently owned by institutional investors.

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.