Five9 (FIVN) Shares Gap Up on Analyst Upgrade

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Shares of Five9 Inc (NASDAQ:FIVN) gapped up prior to trading on Thursday after Roth Capital raised their price target on the stock from $45.00 to $55.00. The stock had previously closed at $43.73, but opened at $43.76. Roth Capital currently has a buy rating on the stock. Five9 shares last traded at $43.95, with a volume of 33476 shares changing hands.

Several other analysts have also weighed in on FIVN. Stifel Nicolaus started coverage on Five9 in a report on Wednesday, July 11th. They issued a “hold” rating and a $36.00 target price on the stock. BidaskClub lowered Five9 from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Canaccord Genuity reissued a “buy” rating and issued a $42.00 target price (up previously from $34.00) on shares of Five9 in a report on Tuesday, August 7th. JPMorgan Chase & Co. upped their target price on Five9 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, August 7th. Finally, Northland Securities reissued a “buy” rating and issued a $48.00 target price on shares of Five9 in a report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.92.

In other news, CFO Barry Zwarenstein sold 10,000 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $47.25, for a total value of $472,500.00. Following the sale, the chief financial officer now directly owns 128,098 shares in the company, valued at $6,052,630.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Welch sold 1,031 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $43.47, for a total value of $44,817.57. Following the completion of the sale, the executive vice president now owns 77,992 shares in the company, valued at $3,390,312.24. The disclosure for this sale can be found here. Insiders sold 98,708 shares of company stock worth $4,296,448 over the last 90 days. Company insiders own 5.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in Five9 during the 3rd quarter valued at approximately $16,768,000. Suffolk Capital Management LLC acquired a new stake in Five9 during the 3rd quarter valued at approximately $915,000. BlackRock Inc. grew its stake in Five9 by 0.9% during the 3rd quarter. BlackRock Inc. now owns 4,111,151 shares of the software maker’s stock valued at $179,617,000 after purchasing an additional 38,488 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in Five9 by 4.2% during the 3rd quarter. Granite Investment Partners LLC now owns 690,443 shares of the software maker’s stock worth $30,165,000 after buying an additional 27,863 shares during the last quarter. Finally, AXA lifted its holdings in Five9 by 4.8% during the 3rd quarter. AXA now owns 426,522 shares of the software maker’s stock worth $18,635,000 after buying an additional 19,586 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

The company has a debt-to-equity ratio of 1.66, a current ratio of 6.96 and a quick ratio of 6.96. The firm has a market capitalization of $2.24 billion, a P/E ratio of -250.06 and a beta of 0.59.

Five9 (NASDAQ:FIVN) last released its earnings results on Tuesday, November 6th. The software maker reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Five9 had a positive return on equity of 1.00% and a negative net margin of 1.90%. The company had revenue of $65.30 million for the quarter, compared to the consensus estimate of $61.70 million. During the same quarter last year, the business posted $0.04 EPS. Five9’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, sell-side analysts predict that Five9 Inc will post -0.06 earnings per share for the current year.

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About Five9 (NASDAQ:FIVN)

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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