Shares of Five9, Inc. (NASDAQ:FIVN) have earned a consensus rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $22.00.

Several research analysts recently commented on FIVN shares. Zacks Investment Research lowered shares of Five9 from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. BidaskClub lowered shares of Five9 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Northland Securities set a $25.00 price target on shares of Five9 and gave the company a “buy” rating in a research note on Wednesday, July 19th. Morgan Stanley restated an “equal weight” rating and set a $21.00 price target (up previously from $18.00) on shares of Five9 in a research note on Thursday, July 20th. Finally, Canaccord Genuity upped their price target on shares of Five9 from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 4th.

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In other news, CEO Michael Burkland sold 12,590 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $21.00, for a total value of $264,390.00. Following the sale, the chief executive officer now directly owns 963,501 shares of the company’s stock, valued at approximately $20,233,521. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel P. Burkland sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $22.60, for a total transaction of $226,000.00. Following the completion of the sale, the executive vice president now directly owns 173,498 shares in the company, valued at $3,921,054.80. The disclosure for this sale can be found here. Insiders have sold a total of 103,007 shares of company stock worth $2,220,520 in the last 90 days. 9.10% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp purchased a new stake in shares of Five9 in the 2nd quarter valued at $459,000. Wasatch Advisors Inc. purchased a new stake in shares of Five9 in the 2nd quarter valued at $3,159,000. Verition Fund Management LLC purchased a new stake in shares of Five9 in the 2nd quarter valued at $361,000. Castleark Management LLC boosted its holdings in shares of Five9 by 0.7% in the 2nd quarter. Castleark Management LLC now owns 431,966 shares of the software maker’s stock valued at $9,296,000 after acquiring an additional 2,842 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Five9 by 42.0% in the 2nd quarter. California State Teachers Retirement System now owns 92,400 shares of the software maker’s stock valued at $1,988,000 after acquiring an additional 27,334 shares during the last quarter. 91.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Five9 (NASDAQ FIVN) opened at 22.14 on Friday. The stock’s 50 day moving average is $21.31 and its 200-day moving average is $20.30. Five9 has a 12-month low of $12.58 and a 12-month high of $24.80. The stock’s market cap is $1.22 billion.

Five9 Company Profile

Five9 Inc (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. The Company’s solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs).

Analyst Recommendations for Five9 (NASDAQ:FIVN)

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