Five9’s (FIVN) “Buy” Rating Reiterated at Needham & Company LLC

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They presently have a $90.00 target price on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 47.54% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company cut their target price on shares of Five9 from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Rosenblatt Securities cut their target price on shares of Five9 from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Canaccord Genuity Group cut their target price on shares of Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Morgan Stanley cut their target price on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada began coverage on shares of Five9 in a report on Friday, March 15th. They set an “outperform” rating and a $80.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Five9 currently has an average rating of “Moderate Buy” and a consensus price target of $85.47.

Five9 Stock Performance

FIVN opened at $61.00 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. The firm’s 50-day moving average price is $60.10 and its 200 day moving average price is $68.50. Five9 has a twelve month low of $51.01 and a twelve month high of $92.40. The firm has a market capitalization of $4.50 billion, a PE ratio of -50.20 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. The business had revenue of $239.06 million for the quarter, compared to the consensus estimate of $237.64 million. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. As a group, sell-side analysts expect that Five9 will post -0.42 EPS for the current fiscal year.

Insider Activity at Five9

In other Five9 news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction of $420,435.20. Following the completion of 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 SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in Five9 by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after purchasing an additional 383,002 shares during the period. Vanguard Group Inc. grew its holdings in Five9 by 3.2% in the third quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock valued at $465,291,000 after purchasing an additional 227,183 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Five9 by 966.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock valued at $22,411,000 after purchasing an additional 315,867 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Five9 by 11.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock valued at $52,701,000 after purchasing an additional 81,744 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Five9 by 7.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock valued at $30,078,000 after purchasing an additional 25,075 shares during the period. 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.