Five9 (NASDAQ:FIVN) Earns “Outperform” Rating from Royal Bank of Canada

Five9 (NASDAQ:FIVN)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $65.00 target price on the software maker’s stock. Royal Bank of Canada’s target price indicates a potential upside of 112.63% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Five9 in a research note on Monday. Piper Sandler upped their price target on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Truist Financial reissued a “buy” rating and issued a $65.00 price objective on shares of Five9 in a research note on Tuesday, December 17th. Cantor Fitzgerald increased their price objective on shares of Five9 from $46.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, William Blair reissued an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Five9 has an average rating of “Moderate Buy” and a consensus price target of $56.76.

Five9 Stock Performance

FIVN stock traded up $0.69 on Wednesday, hitting $30.57. The company’s stock had a trading volume of 61,660 shares, compared to its average volume of 1,520,891. The firm has a 50 day moving average of $37.79 and a two-hundred day moving average of $35.81. Five9 has a 1 year low of $26.60 and a 1 year high of $63.79. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -153.09, a price-to-earnings-growth ratio of 9.41 and a beta of 1.01. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The firm had revenue of $278.66 million for the quarter, compared to analysts’ expectations of $267.70 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. Equities analysts predict that Five9 will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Five9

In related news, EVP Panos Kozanian sold 7,619 shares of Five9 stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total transaction of $254,474.60. Following the sale, the executive vice president now directly owns 126,359 shares in the company, valued at $4,220,390.60. The trade was a 5.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Leena Mansharamani sold 1,135 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the sale, the chief accounting officer now owns 47,165 shares in the company, valued at approximately $1,424,383. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,874 shares of company stock worth $985,446. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Five9 by 10.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,836 shares of the software maker’s stock valued at $156,000 after buying an additional 365 shares during the last quarter. Arizona State Retirement System lifted its holdings in Five9 by 2.0% in the 4th quarter. Arizona State Retirement System now owns 21,694 shares of the software maker’s stock worth $882,000 after purchasing an additional 424 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Five9 by 155.7% in the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock worth $35,000 after purchasing an additional 520 shares during the last quarter. Xponance Inc. lifted its holdings in Five9 by 6.1% in the 4th quarter. Xponance Inc. now owns 9,421 shares of the software maker’s stock worth $383,000 after purchasing an additional 539 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Five9 by 1.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 32,607 shares of the software maker’s stock worth $1,325,000 after purchasing an additional 590 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Five9 Company Profile

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.