Five9 (NASDAQ:FIVN) Stock Rating Reaffirmed by Needham & Company LLC

Posted by Defense World Staff on Aug 10th, 2023

Five9 (NASDAQ:FIVN – Get Free Report)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They currently have a $90.00 price objective on the software maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 33.23% from the company’s previous close.

Several other brokerages have also recently issued reports on FIVN. Roth Capital reaffirmed a “buy” rating on shares of Five9 in a report on Tuesday, May 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 target price on shares of Five9 in a report on Tuesday. DA Davidson started coverage on Five9 in a research note on Wednesday, June 7th. They set a “neutral” rating and a $75.00 price objective on the stock. StockNews.com raised Five9 from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, KeyCorp boosted their price objective on Five9 from $81.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.59.

Read Our Latest Analysis on FIVN

Five9 Trading Down 3.3 %

Shares of FIVN stock opened at $67.55 on Tuesday. Five9 has a 12-month low of $46.61 and a 12-month high of $120.39. The company has a current ratio of 5.00, a quick ratio of 5.00 and a debt-to-equity ratio of 2.18. The stock’s 50-day moving average price is $79.56 and its 200-day moving average price is $71.97. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -56.29 and a beta of 0.79.

Insider Activity at Five9

In related news, CFO Barry Zwarenstein sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.09, for a total value of $162,725.00. Following the completion of the sale, the chief financial officer now owns 89,803 shares in the company, valued at $5,845,277.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Barry Zwarenstein sold 2,500 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $65.09, for a total transaction of $162,725.00. Following the transaction, the chief financial officer now directly owns 89,803 shares of the company’s stock, valued at $5,845,277.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Panos Kozanian sold 16,667 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $69.49, for a total value of $1,158,189.83. Following the transaction, the executive vice president now directly owns 94,913 shares in the company, valued at $6,595,504.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,758 shares of company stock worth $21,799,003. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Five9

Several hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in Five9 by 54.2% in the 4th quarter. First Horizon Advisors Inc. now owns 404 shares of the software maker’s stock valued at $27,000 after buying an additional 142 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Five9 by 0.5% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 31,357 shares of the software maker’s stock valued at $2,267,000 after acquiring an additional 155 shares during the last quarter. Xponance Inc. raised its holdings in Five9 by 1.8% in the 1st quarter. Xponance Inc. now owns 9,557 shares of the software maker’s stock valued at $691,000 after acquiring an additional 167 shares during the last quarter. Left Brain Wealth Management LLC raised its holdings in Five9 by 1.9% in the 2nd quarter. Left Brain Wealth Management LLC now owns 10,161 shares of the software maker’s stock valued at $838,000 after acquiring an additional 190 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Five9 by 0.7% in the 1st quarter. Treasurer of the State of North Carolina now owns 30,607 shares of the software maker’s stock valued at $2,213,000 after acquiring an additional 220 shares during the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

Five9 Company Profile

(Get Free Report)

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally. The company 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.