Five9 (NASDAQ:FIVN) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Five9 (NASDAQ:FIVN) in a research note published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $65.00 price target on the software maker’s stock.

Other equities analysts also recently issued research reports about the stock. William Blair restated an “outperform” rating on shares of Five9 in a research report on Thursday, March 13th. Piper Sandler lifted their price objective on Five9 from $46.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Five9 in a research note on Monday. Barclays raised their price target on Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Morgan Stanley upped their price objective on Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.76.

Five9 Trading Up 1.1 %

NASDAQ:FIVN opened at $30.21 on Wednesday. The company has a market capitalization of $2.29 billion, a PE ratio of -151.04, a P/E/G ratio of 9.41 and a beta of 1.01. Five9 has a 52-week low of $26.60 and a 52-week high of $63.79. The stock’s 50 day moving average price is $37.61 and its 200 day moving average price is $35.77. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32.

Five9 (NASDAQ:FIVN) last announced its earnings results on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The business had revenue of $278.66 million for the quarter, compared to analysts’ expectations of $267.70 million. On average, research analysts anticipate that Five9 will post 0.28 EPS for the current year.

Insider Buying and Selling at Five9

In other news, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $35.63, for a total value of $448,759.85. Following the completion of the transaction, the chief executive officer now owns 404,056 shares of the company’s stock, valued at $14,396,515.28. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total transaction of $254,474.60. Following the sale, the executive vice president now owns 126,359 shares in the company, valued at approximately $4,220,390.60. This trade represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,874 shares of company stock worth $985,446. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Five9 in the fourth quarter valued at $81,280,000. Ameriprise Financial Inc. grew its holdings in Five9 by 353.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after buying an additional 1,867,137 shares during the period. Sylebra Capital LLC increased its stake in shares of Five9 by 59.4% during the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after acquiring an additional 1,396,496 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Five9 during the 4th quarter worth about $51,061,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Five9 by 50.9% during the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after acquiring an additional 601,348 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

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.