Five9, Inc. (FIVN) Given Average Recommendation of “Buy” by Analysts
Shares of Five9, Inc. (NASDAQ:FIVN) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.86.
FIVN has been the topic of several recent research reports. Northland Securities set a $25.00 target price on shares of Five9 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Morgan Stanley reiterated an “equal weight” rating and set a $21.00 target price (up from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Canaccord Genuity lifted their target price on shares of Five9 from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price (up from $21.00) on shares of Five9 in a research report on Wednesday, August 9th. Finally, Zacks Investment Research downgraded shares of Five9 from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th.
In other news, CFO Barry Zwarenstein sold 3,020 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $21.01, for a total value of $63,450.20. Following the transaction, the chief financial officer now owns 126,722 shares in the company, valued at approximately $2,662,429.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Welch sold 3,903 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $20.88, for a total transaction of $81,494.64. Following the completion of the transaction, the executive vice president now owns 136,799 shares in the company, valued at approximately $2,856,363.12. The disclosure for this sale can be found here. Insiders sold a total of 91,007 shares of company stock worth $2,000,973 in the last 90 days. Corporate insiders own 9.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Five9 by 25.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,297,927 shares of the software maker’s stock worth $70,972,000 after purchasing an additional 670,939 shares during the period. Renaissance Technologies LLC lifted its position in shares of Five9 by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,113,600 shares of the software maker’s stock worth $45,485,000 after purchasing an additional 132,100 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Five9 by 69.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,703,148 shares of the software maker’s stock valued at $36,650,000 after acquiring an additional 697,949 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Five9 during the 2nd quarter valued at $21,296,000. Finally, FMR LLC lifted its position in shares of Five9 by 19.6% during the 2nd quarter. FMR LLC now owns 956,737 shares of the software maker’s stock valued at $20,589,000 after acquiring an additional 156,737 shares during the period. Hedge funds and other institutional investors own 91.09% of the company’s stock.
Shares of Five9 (NASDAQ FIVN) opened at $25.22 on Monday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.21.
Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).
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