Canaccord Genuity Increases Five9 (FIVN) Price Target to $60.00

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Five9 (NASDAQ:FIVN) had its price objective lifted by equities research analysts at Canaccord Genuity from $45.00 to $60.00 in a note issued to investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the software maker’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 14.77% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley upgraded Five9 from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $37.00 to $54.00 in a research note on Monday, January 7th. JPMorgan Chase & Co. downgraded Five9 from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 13th. Stephens started coverage on Five9 in a research note on Thursday, January 3rd. They issued an “equal weight” rating and a $48.00 price target on the stock. Bank of America raised their price target on Five9 from $25.00 to $28.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 7th. Finally, BidaskClub upgraded Five9 from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Five9 currently has an average rating of “Buy” and a consensus price target of $51.85.

FIVN stock opened at $52.28 on Wednesday. The firm has a market capitalization of $3.19 billion, a PE ratio of 348.53, a PEG ratio of 123.43 and a beta of 0.64. Five9 has a 1 year low of $26.92 and a 1 year high of $57.90. The company has a current ratio of 6.95, a quick ratio of 6.95 and a debt-to-equity ratio of 1.56.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Tuesday, February 19th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.10. The firm had revenue of $72.34 million for the quarter, compared to the consensus estimate of $66.53 million. Five9 had a positive return on equity of 7.75% and a negative net margin of 0.09%. On average, equities research analysts expect that Five9 will post 0.04 earnings per share for the current fiscal year.

In related news, President Daniel P. Burkland sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $51.93, for a total value of $778,950.00. Following the transaction, the president now directly owns 159,869 shares of the company’s stock, valued at approximately $8,301,997.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Scott Welch sold 1,031 shares of the firm’s stock in a transaction on Monday, December 24th. The stock was sold at an average price of $39.57, for a total value of $40,796.67. Following the completion of the transaction, the executive vice president now directly owns 63,830 shares in the company, valued at $2,525,753.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,759 shares of company stock worth $5,044,363. 5.10% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in FIVN. Vanguard Group Inc raised its holdings in Five9 by 19.3% during the third quarter. Vanguard Group Inc now owns 6,338,262 shares of the software maker’s stock valued at $276,920,000 after acquiring an additional 1,026,191 shares during the period. Vanguard Group Inc. raised its holdings in Five9 by 19.3% during the third quarter. Vanguard Group Inc. now owns 6,338,262 shares of the software maker’s stock valued at $276,920,000 after acquiring an additional 1,026,191 shares during the period. BlackRock Inc. raised its holdings in Five9 by 3.9% during the fourth quarter. BlackRock Inc. now owns 4,271,831 shares of the software maker’s stock valued at $186,762,000 after acquiring an additional 160,680 shares during the period. Renaissance Technologies LLC raised its holdings in Five9 by 4.7% during the third quarter. Renaissance Technologies LLC now owns 2,628,700 shares of the software maker’s stock valued at $114,848,000 after acquiring an additional 117,800 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Five9 by 17.7% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,354,893 shares of the software maker’s stock valued at $102,956,000 after acquiring an additional 354,363 shares during the period. 97.80% of the stock is currently owned by institutional investors.

Five9 Company Profile

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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