Five9 (NASDAQ:FIVN) Raised to Strong-Buy at Wall Street Zen

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

Other equities research analysts have also recently issued reports about the company. DA Davidson reiterated a “neutral” rating and issued a $28.00 price target on shares of Five9 in a research note on Friday, September 12th. Piper Sandler cut their target price on Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Cantor Fitzgerald reduced their target price on Five9 from $36.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Wells Fargo & Company dropped their price target on Five9 from $28.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Finally, Zacks Research cut shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.19.

Five9 Trading Down 0.4%

Shares of Five9 stock opened at $20.65 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.61 and a current ratio of 4.61. The firm has a 50-day moving average of $21.53 and a 200-day moving average of $24.95. Five9 has a 52-week low of $17.71 and a 52-week high of $49.90. The stock has a market cap of $1.62 billion, a PE ratio of 57.36, a PEG ratio of 1.29 and a beta of 1.35.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results 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 2.77% and a return on equity of 10.59%. As a group, sell-side analysts forecast that Five9 will post 0.28 EPS for the current year.

Five9 announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Five9

In other news, CAO Leena Mansharamani sold 2,951 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $20.41, for a total value of $60,229.91. Following the completion of the transaction, the chief accounting officer owned 38,571 shares of the company’s stock, valued at $787,234.11. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Matthew E. Tuckness sold 5,255 shares of Five9 stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $20.35, for a total transaction of $106,939.25. Following the sale, the executive owned 176,379 shares in the company, valued at approximately $3,589,312.65. This represents a 2.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 66,739 shares of company stock valued at $1,364,010. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIVN. Nisa Investment Advisors LLC acquired a new position in Five9 during the 2nd quarter worth about $32,000. Global Retirement Partners LLC raised its position in shares of Five9 by 81.7% during the third 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. Quarry LP acquired a new position in shares of Five9 in the third quarter worth approximately $33,000. Advisory Services Network LLC bought a new stake in Five9 in the third quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Five9 during the 3rd quarter valued at approximately $45,000. 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.