Five9 (NASDAQ:FIVN) Rating Lowered to “Buy” at Wall Street Zen

Five9 (NASDAQ:FIVN) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

FIVN has been the topic of a number of other reports. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price target on shares of Five9 in a report on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Five9 in a research report on Thursday. Cantor Fitzgerald decreased their price target on shares of Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Barclays cut their price objective on shares of Five9 from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Finally, Piper Sandler decreased their target price on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Five9 has an average rating of “Moderate Buy” and a consensus target price of $35.19.

Five9 Stock Down 1.0%

Five9 stock opened at $20.27 on Friday. The stock has a market capitalization of $1.59 billion, a PE ratio of 225.25, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. Five9 has a twelve month low of $17.97 and a twelve month high of $49.90. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $23.51 and a 200-day moving average of $25.69.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. The business had revenue of $283.27 million for the quarter. Five9 had a net margin of 0.80% and a return on equity of 8.91%. On average, equities research analysts anticipate that Five9 will post 0.28 EPS for the current fiscal year.

Five9 declared that its Board of Directors has authorized a share buyback program on Tuesday, November 11th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the software maker to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Five9

In other news, President Andy Dignan sold 7,614 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.48, for a total value of $194,004.72. Following the sale, the president directly owned 218,125 shares of the company’s stock, valued at approximately $5,557,825. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Burkland sold 18,425 shares of Five9 stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $473,891.00. Following the transaction, the chief executive officer owned 367,562 shares of the company’s stock, valued at $9,453,694.64. The trade was a 4.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 53,738 shares of company stock valued at $1,380,677. 1.60% of the stock is owned by company insiders.

Institutional Trading of Five9

A number of hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC increased its holdings in shares of Five9 by 81.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock worth $30,000 after acquiring an additional 552 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Five9 in the second quarter valued at $32,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Five9 in the third quarter valued at about $45,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Five9 by 419.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock worth $61,000 after buying an additional 1,811 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Five9 during the 3rd quarter worth about $66,000. 96.64% of the stock is owned by institutional investors and hedge funds.

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.