Rosenblatt Securities Reiterates Buy Rating for Five9 (NASDAQ:FIVN)

Rosenblatt Securities reissued their buy rating on shares of Five9 (NASDAQ:FIVN) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $36.00 price objective on the software maker’s stock.

A number of other equities research analysts have also recently issued reports on FIVN. Needham & Company LLC lowered their target price on shares of Five9 from $52.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company reduced their price target on shares of Five9 from $45.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley reduced their price target on shares of Five9 from $48.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Barclays reduced their price target on shares of Five9 from $60.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Jefferies Financial Group reduced their price target on shares of Five9 from $45.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.58.

Five9 Trading Down 2.5%

Shares of FIVN stock opened at $27.67 on Tuesday. The company’s fifty day simple moving average is $26.08 and its two-hundred day simple moving average is $34.63. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. Five9 has a 1 year low of $21.04 and a 1 year high of $54.18. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -138.34, a PEG ratio of 9.41 and a beta of 1.23.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Five9 had a negative net margin of 1.23% and a positive return on equity of 3.62%. The business had revenue of $279.71 million for the quarter, compared to analysts’ expectations of $272.26 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, analysts anticipate that Five9 will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In other Five9 news, CAO Leena Mansharamani sold 1,135 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were 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 directly owns 47,165 shares in the company, valued at $1,424,383. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the sale, the chief executive officer now owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. The trade was a 3.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,574 shares of company stock worth $1,004,346. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Five9

Several institutional investors have recently added to or reduced their stakes in the business. Atreides Management LP boosted its position in Five9 by 54.9% during the first quarter. Atreides Management LP now owns 616,796 shares of the software maker’s stock valued at $16,746,000 after buying an additional 218,563 shares during the period. Graham Capital Management L.P. raised its stake in shares of Five9 by 125.4% during the first quarter. Graham Capital Management L.P. now owns 102,922 shares of the software maker’s stock valued at $2,794,000 after acquiring an additional 57,261 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Five9 by 6.5% during the first quarter. Armistice Capital LLC now owns 2,098,000 shares of the software maker’s stock valued at $56,961,000 after acquiring an additional 127,793 shares during the last quarter. MAI Capital Management raised its stake in shares of Five9 by 229.7% during the first quarter. MAI Capital Management now owns 5,269 shares of the software maker’s stock valued at $143,000 after acquiring an additional 3,671 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Five9 during the first quarter valued at about $74,000. 96.64% of the stock is currently 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, 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.