Five9 (NASDAQ:FIVN) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of Five9 (NASDAQ:FIVN) from a neutral rating to an overweight rating in a research report report published on Friday, Analyst Price Targets reports. Piper Sandler currently has $200.00 price target on the software maker’s stock, down from their prior price target of $203.00. The analysts noted that the move was a valuation call.

Several other research firms have also recently commented on FIVN. Colliers Securities cut shares of Five9 from a buy rating to a neutral rating in a research report on Tuesday, July 20th. JPMorgan Chase & Co. cut shares of Five9 to a hold rating and set a $213.00 target price on the stock. in a research report on Thursday, August 5th. Truist Securities cut shares of Five9 from a buy rating to a hold rating and lowered their price target for the stock from $225.00 to $212.00 in a report on Monday, August 9th. Robert W. Baird reaffirmed a buy rating and issued a $200.00 price target on shares of Five9 in a report on Wednesday, July 28th. Finally, Truist cut shares of Five9 from a buy rating to a hold rating and lowered their price target for the stock from $225.00 to $212.00 in a report on Monday, August 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Five9 has a consensus rating of Hold and an average price target of $198.30.

Shares of FIVN opened at $171.59 on Friday. The company has a debt-to-equity ratio of 4.75, a current ratio of 4.80 and a quick ratio of 4.80. The stock has a 50-day moving average of $183.67 and a 200-day moving average of $175.86. The company has a market cap of $11.62 billion, a PE ratio of -241.67 and a beta of 0.48. Five9 has a one year low of $120.66 and a one year high of $211.68.

Five9 (NASDAQ:FIVN) last issued its earnings results on Tuesday, July 27th. The software maker reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The company had revenue of $143.78 million during the quarter, compared to the consensus estimate of $132.46 million. Five9 had a negative return on equity of 2.67% and a negative net margin of 9.11%. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. Analysts expect that Five9 will post -0.22 EPS for the current fiscal year.

In related news, CEO Rowan M. Trollope sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $191.78, for a total value of $1,150,680.00. Following the sale, the chief executive officer now owns 195,256 shares in the company, valued at $37,446,195.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Barry Zwarenstein sold 12,500 shares of the stock in a transaction that occurred on Friday, September 17th. The stock was sold at an average price of $173.87, for a total transaction of $2,173,375.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,582 shares of company stock worth $10,074,613. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FIVN. Macquarie Group Ltd. increased its holdings in Five9 by 10,448.9% in the 2nd quarter. Macquarie Group Ltd. now owns 2,318,755 shares of the software maker’s stock valued at $425,237,000 after acquiring an additional 2,296,774 shares during the last quarter. Waddell & Reed Financial Inc. increased its holdings in Five9 by 71.2% in the 1st quarter. Waddell & Reed Financial Inc. now owns 2,148,101 shares of the software maker’s stock valued at $335,813,000 after acquiring an additional 893,067 shares during the last quarter. Fred Alger Management LLC increased its holdings in Five9 by 205.4% in the 1st quarter. Fred Alger Management LLC now owns 838,972 shares of the software maker’s stock valued at $131,156,000 after acquiring an additional 564,303 shares during the last quarter. BlackRock Inc. increased its holdings in Five9 by 12.4% in the 1st quarter. BlackRock Inc. now owns 4,066,902 shares of the software maker’s stock valued at $635,776,000 after acquiring an additional 449,754 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Five9 by 318.9% in the 2nd quarter. Franklin Resources Inc. now owns 438,895 shares of the software maker’s stock valued at $80,488,000 after acquiring an additional 334,124 shares during the last quarter. Institutional investors own 98.31% of the company’s stock.

About Five9

Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.

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Analyst Recommendations for Five9 (NASDAQ:FIVN)

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