Five9’s (FIVN) Overweight Rating Reiterated at Piper Sandler

Five9 (NASDAQ:FIVN)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $47.00 price objective on the software maker’s stock. Piper Sandler’s target price would suggest a potential upside of 35.21% from the company’s previous close.

A number of other research firms have also recently issued reports on FIVN. Roth Mkm decreased their target price on Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays lowered their price objective on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. UBS Group cut their target price on shares of Five9 from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Bank of America upgraded Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Monday, August 5th. Finally, BTIG Research lowered their target price on Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.35.

Five9 Price Performance

Shares of Five9 stock traded up $0.59 during trading on Wednesday, reaching $34.76. 237,287 shares of the company’s stock were exchanged, compared to its average volume of 1,398,255. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. Five9 has a 1-year low of $28.75 and a 1-year high of $92.40. The company has a market cap of $2.57 billion, a P/E ratio of -40.71 and a beta of 0.82. The firm’s 50-day moving average price is $41.16 and its 200 day moving average price is $52.79.

Insider Activity at Five9

In other Five9 news, CRO Daniel P. Burkland sold 7,698 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total transaction of $356,417.40. Following the completion of the sale, the executive now owns 127,635 shares in the company, valued at approximately $5,909,500.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Daniel P. Burkland sold 7,698 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $356,417.40. Following the transaction, the executive now owns 127,635 shares of the company’s stock, valued at approximately $5,909,500.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Burkland sold 12,386 shares of Five9 stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $573,471.80. Following the transaction, the chief executive officer now owns 266,083 shares of the company’s stock, valued at approximately $12,319,642.90. The disclosure for this sale can be found here. Insiders sold 53,385 shares of company stock valued at $2,418,755 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of hedge funds have recently bought and sold shares of FIVN. Nordea Investment Management AB bought a new position in shares of Five9 during the first quarter valued at about $3,239,000. International Assets Investment Management LLC bought a new stake in Five9 during the fourth quarter worth $1,684,000. Alberta Investment Management Corp bought a new position in Five9 in the 4th quarter valued at $2,254,000. Trexquant Investment LP purchased a new stake in shares of Five9 during the 4th quarter valued at $1,364,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Five9 in the 2nd quarter worth about $2,177,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

About Five9

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