Cantor Fitzgerald Forecasts Strong Price Appreciation for Five9 (NASDAQ:FIVN) Stock

Five9 (NASDAQ:FIVN) had its price target hoisted by equities researchers at Cantor Fitzgerald from $46.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 30.69% from the company’s current price.

Several other brokerages have also issued reports on FIVN. Rosenblatt Securities lifted their price target on Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday. DA Davidson lifted their price objective on Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Truist Financial reiterated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Five9 in a report on Friday. Finally, Robert W. Baird lifted their price objective on Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Five9 Stock Performance

Shares of Five9 stock traded up $1.93 during trading hours on Friday, reaching $43.62. The company had a trading volume of 4,866,710 shares, compared to its average volume of 1,325,926. Five9 has a one year low of $26.60 and a one year high of $65.71. The business has a fifty day simple moving average of $40.57 and a 200 day simple moving average of $35.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $3.28 billion, a PE ratio of -87.76, a price-to-earnings-growth ratio of 9.44 and a beta of 0.93.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). The business had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Five9 had a negative net margin of 3.66% and a negative return on equity of 1.53%. On average, analysts anticipate that Five9 will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,346 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total transaction of $55,630.18. Following the sale, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at approximately $1,468,289.58. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Burkland sold 12,594 shares of Five9 stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total value of $521,391.60. Following the sale, the chief executive officer now directly owns 240,894 shares in the company, valued at approximately $9,973,011.60. The trade was 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 valued at $1,209,279. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Five9

Large investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Five9 by 14.5% in 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 purchasing an additional 210,836 shares in the last quarter. Gagnon Securities LLC boosted its position in shares of Five9 by 10.4% in the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after purchasing an additional 34,597 shares in the last quarter. Vestcor Inc boosted its position in shares of Five9 by 42.9% in the 3rd 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 in the last quarter. Fisher Asset Management LLC boosted its position in shares of Five9 by 14.9% in the 3rd 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 in the last quarter. Finally, Barclays PLC lifted its position in Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock valued at $6,956,000 after acquiring an additional 165,487 shares in the last quarter. 96.64% of the stock is owned by 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.