Five9 (FIVN) PT Raised to $28.00

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Five9 (NASDAQ:FIVN) had its price target hoisted by investment analysts at Bank of America from $25.00 to $28.00 in a research note issued to investors on Wednesday. The brokerage presently has an “underperform” rating on the software maker’s stock. Bank of America’s target price would indicate a potential downside of 35.38% from the stock’s previous close.

FIVN has been the subject of several other research reports. Canaccord Genuity reissued a “buy” rating and issued a $42.00 price target (up previously from $34.00) on shares of Five9 in a report on Tuesday, August 7th. Zacks Investment Research raised Five9 from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Friday, September 28th. BidaskClub raised Five9 from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Dougherty & Co initiated coverage on Five9 in a report on Tuesday, October 16th. They set a “hold” rating for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Five9 in a report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Five9 presently has a consensus rating of “Hold” and a consensus target price of $39.64.

NASDAQ FIVN traded up $4.96 during trading on Wednesday, hitting $43.33. The company’s stock had a trading volume of 46,713 shares, compared to its average volume of 649,431. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.96 and a current ratio of 6.96. The company has a market cap of $2.29 billion, a PE ratio of -254.88 and a beta of 0.59. Five9 has a fifty-two week low of $22.51 and a fifty-two week high of $49.50.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Tuesday, November 6th. The software maker reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.09. The business had revenue of $65.30 million during the quarter, compared to the consensus estimate of $61.70 million. Five9 had a negative return on equity of 3.56% and a negative net margin of 1.04%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. On average, sell-side analysts predict that Five9 will post -0.06 earnings per share for the current fiscal year.

In other Five9 news, EVP Scott Welch sold 1,750 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $37.99, for a total value of $66,482.50. Following the completion of the transaction, the executive vice president now directly owns 78,711 shares of the company’s stock, valued at $2,990,230.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Barry Zwarenstein sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $36.39, for a total value of $363,900.00. Following the completion of the transaction, the chief financial officer now directly owns 105,349 shares of the company’s stock, valued at $3,833,650.11. The disclosure for this sale can be found here. Insiders have sold 108,708 shares of company stock valued at $4,733,648 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

A number of large investors have recently made changes to their positions in FIVN. Mount Yale Investment Advisors LLC acquired a new position in Five9 in the second quarter valued at approximately $110,000. Great West Life Assurance Co. Can lifted its holdings in Five9 by 81.0% in the second quarter. Great West Life Assurance Co. Can now owns 5,407 shares of the software maker’s stock valued at $187,000 after acquiring an additional 2,419 shares during the period. Atria Investments LLC acquired a new position in Five9 in the second quarter valued at approximately $214,000. Oppenheimer Asset Management Inc. acquired a new position in Five9 in the second quarter valued at approximately $214,000. Finally, Mirador Capital Partners LP acquired a new position in Five9 in the second quarter valued at approximately $234,000. 95.96% of the stock is owned by institutional investors.

About Five9

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.

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Analyst Recommendations for Five9 (NASDAQ:FIVN)

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