Five9 (NASDAQ:FIVN) Shares Gap Up to $56.73

Shares of Five9, Inc. (NASDAQ:FIVN) gapped up prior to trading on Friday . The stock had previously closed at $56.73, but opened at $60.76. Five9 shares last traded at $59.10, with a volume of 866,581 shares.

Wall Street Analyst Weigh In

FIVN has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Five9 in a research note on Friday. UBS Group cut their target price on shares of Five9 from $90.00 to $81.00 and set a “buy” rating for the company in a research report on Friday. Canaccord Genuity Group cut their target price on shares of Five9 from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Barclays cut their target price on shares of Five9 from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Finally, Morgan Stanley lowered their price target on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Five9 has an average rating of “Moderate Buy” and an average price target of $84.88.

Five9 Trading Up 2.0 %

The stock has a market cap of $4.27 billion, a P/E ratio of -51.22 and a beta of 0.85. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average price of $59.98 and a two-hundred day moving average price of $68.46.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative return on equity of 12.51% and a negative net margin of 8.98%. The company had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. On average, research analysts expect that Five9, Inc. will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Five9 news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the sale, the chief operating officer now directly owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Several hedge funds have recently modified their holdings of the company. Arcadia Investment Management Corp MI lifted its position in Five9 by 46.8% during the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after acquiring an additional 144 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Five9 by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 31,227 shares of the software maker’s stock worth $2,008,000 after purchasing an additional 160 shares in the last quarter. Arizona State Retirement System raised its stake in Five9 by 0.9% in the third quarter. Arizona State Retirement System now owns 20,266 shares of the software maker’s stock valued at $1,303,000 after buying an additional 172 shares during the last quarter. US Bancorp DE raised its position in shares of Five9 by 1.4% in the 4th quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock valued at $1,340,000 after purchasing an additional 228 shares during the last quarter. Finally, Schechter Investment Advisors LLC boosted its stake in Five9 by 4.5% in the 3rd quarter. Schechter Investment Advisors LLC now owns 6,319 shares of the software maker’s stock worth $406,000 after purchasing an additional 273 shares in the last quarter. 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.