Analysts Set Five9, Inc. (NASDAQ:FIVN) Price Target at $65.82

Shares of Five9, Inc. (NASDAQ:FIVN) have received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $63.35.

FIVN has been the topic of several recent analyst reports. Robert W. Baird cut shares of Five9 from an “outperform” rating to a “neutral” rating and cut their price target for the company from $90.00 to $40.00 in a report on Friday, August 9th. BTIG Research dropped their target price on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Five9 in a report on Wednesday. UBS Group dropped their target price on shares of Five9 from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $47.00 target price on shares of Five9 in a report on Wednesday.

Insiders Place Their Bets

In other Five9 news, CFO Barry Zwarenstein sold 10,291 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $42.64, for a total value of $438,808.24. Following the completion of the transaction, the chief financial officer now owns 107,255 shares of the company’s stock, valued at approximately $4,573,353.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Barry Zwarenstein sold 10,291 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $42.64, for a total transaction of $438,808.24. Following the completion of the sale, the chief financial officer now owns 107,255 shares of the company’s stock, valued at approximately $4,573,353.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Panos Kozanian sold 6,893 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total transaction of $319,145.90. Following the sale, the executive vice president now directly owns 94,477 shares of the company’s stock, valued at approximately $4,374,285.10. 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Five9 in the 4th quarter worth approximately $79,035,000. Sylebra Capital LLC increased its holdings in Five9 by 28.4% in the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock worth $132,908,000 after acquiring an additional 666,681 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Five9 by 347.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after acquiring an additional 584,800 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after acquiring an additional 446,151 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Five9 by 38.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after acquiring an additional 406,188 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Five9 Stock Performance

NASDAQ:FIVN opened at $33.77 on Friday. The stock has a market cap of $2.49 billion, a P/E ratio of -39.73 and a beta of 0.82. The firm’s fifty day simple moving average is $40.63 and its 200 day simple moving average is $52.25. Five9 has a twelve month low of $28.75 and a twelve month high of $92.40. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41.

Five9 Company Profile

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.