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

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $48.00 price objective on the software maker’s stock. Needham & Company LLC’s price target suggests a potential upside of 44.75% from the company’s previous close.

FIVN has been the subject of a number of other reports. Rosenblatt Securities lowered their target price on Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler dropped their price objective on shares of Five9 from $58.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of Five9 from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Morgan Stanley lowered their target price on Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Finally, BTIG Research cut their price target on Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Five9 has a consensus rating of “Moderate Buy” and an average price target of $63.35.

Five9 Stock Down 2.9 %

NASDAQ:FIVN opened at $33.16 on Wednesday. Five9 has a 1 year low of $28.75 and a 1 year high of $92.40. The stock has a 50-day moving average price of $40.79 and a two-hundred day moving average price of $52.53. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -39.01 and a beta of 0.82. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 2.41.

Insider Activity

In related news, CEO Michael Burkland sold 12,386 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total transaction of $573,471.80. Following the transaction, the chief executive officer now directly owns 266,083 shares in the company, valued at $12,319,642.90. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CRO Daniel P. Burkland sold 7,698 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $356,417.40. Following the completion of the sale, the executive now directly owns 127,635 shares of the company’s stock, valued at $5,909,500.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Burkland sold 12,386 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the transaction, the chief executive officer now directly owns 266,083 shares in the company, valued at $12,319,642.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,385 shares of company stock valued at $2,418,755. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

Several hedge funds have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI raised its position in shares of Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after purchasing an additional 144 shares during the period. Global Wealth Management Investment Advisory Inc. raised its holdings in Five9 by 139.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock valued at $38,000 after acquiring an additional 279 shares during the period. Headlands Technologies LLC lifted its position in Five9 by 136.0% during the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after acquiring an additional 306 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after acquiring an additional 352 shares during the period. Finally, Intrust Bank NA acquired a new position in shares of Five9 in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds 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.