Five9’s (FIVN) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Five9 (NASDAQ:FIVN) in a report released on Tuesday morning,Benzinga reports. They currently have a $36.00 price objective on the software maker’s stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company cut their price target on Five9 from $45.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Evercore ISI cut their price objective on Five9 from $55.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Mizuho cut their price objective on Five9 from $55.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. William Blair reiterated an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. Finally, Morgan Stanley cut their price objective on Five9 from $48.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Seven 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.58.

Five9 Stock Performance

Shares of FIVN stock opened at $28.26 on Tuesday. The stock has a market cap of $2.16 billion, a PE ratio of -141.29, a price-to-earnings-growth ratio of 9.41 and a beta of 1.23. The business has a 50-day simple moving average of $26.22 and a 200-day simple moving average of $34.68. 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 has a 52-week low of $21.04 and a 52-week high of $55.45.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The firm had revenue of $279.71 million during the quarter, compared to analyst estimates of $272.26 million. During the same quarter in the previous year, the business earned $0.48 EPS. Five9’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities analysts expect that Five9 will post 0.28 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael Burkland sold 12,595 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 404,056 shares in the company, valued at approximately $14,396,515.28. This represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Leena Mansharamani sold 1,517 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total value of $50,409.91. Following the completion of the transaction, the chief accounting officer now owns 48,300 shares of the company’s stock, valued at $1,605,009. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,574 shares of company stock worth $1,004,346. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Five9 during the fourth quarter worth $81,280,000. Ameriprise Financial Inc. lifted its stake in Five9 by 353.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after purchasing an additional 1,867,137 shares in the last quarter. Sylebra Capital LLC lifted its stake in Five9 by 59.4% during the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock worth $152,228,000 after purchasing an additional 1,396,496 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Five9 during the fourth quarter worth $51,061,000. Finally, Wellington Management Group LLP lifted its stake in Five9 by 50.9% during the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after purchasing an additional 601,348 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other 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.