Brokerages Set Five9, Inc. (NASDAQ:FIVN) Price Target at $58.18

Five9, Inc. (NASDAQ:FIVN) has been given an average rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $57.50.

A number of brokerages recently weighed in on FIVN. Morgan Stanley boosted their target price on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Wells Fargo & Company cut shares of Five9 from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. Piper Sandler lifted their price target on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. DA Davidson upped their price objective on Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Five9 in a research note on Tuesday, December 17th.

Five9 Stock Up 2.2 %

FIVN stock opened at $37.39 on Tuesday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -74.78, a P/E/G ratio of 8.57 and a beta of 0.92. Five9 has a twelve month low of $26.60 and a twelve month high of $81.24. The business has a 50 day moving average price of $40.44 and a two-hundred day moving average price of $36.25. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32.

Insider Activity

In other Five9 news, EVP Panos Kozanian sold 7,619 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total value of $320,683.71. Following the sale, the executive vice president now owns 69,009 shares in the company, valued at $2,904,588.81. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Burkland sold 12,594 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total transaction of $521,391.60. Following the transaction, the chief executive officer now owns 240,894 shares of the company’s stock, valued at $9,973,011.60. This trade represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,004 shares of company stock worth $1,209,279. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Five9 by 14.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock worth $47,919,000 after buying an additional 210,836 shares during the period. Scalar Gauge Management LLC acquired a new position in Five9 in the 2nd quarter valued at approximately $6,990,000. King Luther Capital Management Corp acquired a new position in shares of Five9 during the second quarter worth $2,062,000. Vestcor Inc lifted its holdings in shares of Five9 by 42.9% during the third quarter. Vestcor Inc now owns 50,000 shares of the software maker’s stock worth $1,437,000 after purchasing an additional 15,000 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Five9 by 14.9% in the third quarter. Fisher Asset Management LLC now owns 761,966 shares of the software maker’s stock worth $21,891,000 after purchasing an additional 98,543 shares during the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, 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.