Five9 (NASDAQ:FIVN) Stock Rating Reaffirmed by Needham & Company LLC

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They presently have a $90.00 price objective on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 55.49% from the company’s current price.

Several other research firms also recently commented on FIVN. Piper Sandler lifted their price objective on shares of Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Canaccord Genuity Group lowered 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. Barclays cut their price objective on Five9 from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Rosenblatt Securities decreased their target price on Five9 from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, Wells Fargo & Company cut their price target on shares of Five9 from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.88.

Five9 Trading Up 2.0 %

Shares of FIVN opened at $57.88 on Friday. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. Five9 has a 12 month low of $51.01 and a 12 month high of $92.40. The stock has a fifty day moving average price of $59.98 and a 200-day moving average price of $68.49.

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

Insider Activity at Five9

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

Hedge Funds Weigh In On Five9

Large investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI increased its stake in shares of Five9 by 46.8% during the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after purchasing an additional 144 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in Five9 by 139.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after buying an additional 279 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Five9 by 136.0% during the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock valued at $42,000 after acquiring an additional 306 shares during the last quarter. Intrust Bank NA purchased a new position in shares of Five9 in the fourth quarter valued at approximately $202,000. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Five9 by 15.7% in the third quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock valued at $214,000 after acquiring an additional 452 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.