Five9 (NASDAQ:FIVN) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Several other equities research analysts have also issued reports on FIVN. Stifel Nicolaus raised their target price on Five9 from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Tuesday, August 7th. Barclays raised their target price on Five9 from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, September 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Five9 in a research report on Thursday, August 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 target price (up from $34.00) on shares of Five9 in a research report on Tuesday, August 7th. Finally, Zacks Investment Research raised Five9 from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Five9 currently has a consensus rating of “Buy” and an average price target of $39.36.

Shares of NASDAQ:FIVN opened at $46.74 on Friday. The company has a current ratio of 6.96, a quick ratio of 6.96 and a debt-to-equity ratio of 1.66. Five9 has a 1-year low of $21.20 and a 1-year high of $49.50. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -274.94 and a beta of 0.38.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Monday, August 6th. The software maker reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. Five9 had a negative return on equity of 3.56% and a negative net margin of 1.04%. The business had revenue of $61.12 million for the quarter, compared to analysts’ expectations of $56.42 million. Five9’s revenue for the quarter was up 28.1% on a year-over-year basis. sell-side analysts forecast that Five9 will post -0.05 earnings per share for the current year.

In related news, EVP Gaurav Passi sold 1,547 shares of Five9 stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $38.71, for a total value of $59,884.37. Following the completion of the sale, the executive vice president now owns 85,135 shares of the company’s stock, valued at approximately $3,295,575.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Barry Zwarenstein sold 10,000 shares of Five9 stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $34.33, for a total value of $343,300.00. Following the completion of the sale, the chief financial officer now directly owns 189,710 shares of the company’s stock, valued at approximately $6,512,744.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,605 shares of company stock valued at $3,334,392. Insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Five9 by 11.1% in the 2nd quarter. BlackRock Inc. now owns 4,072,663 shares of the software maker’s stock worth $140,794,000 after acquiring an additional 406,173 shares during the last quarter. Tremblant Capital Group increased its holdings in Five9 by 7.5% in the 1st quarter. Tremblant Capital Group now owns 1,214,591 shares of the software maker’s stock worth $36,183,000 after acquiring an additional 84,629 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in Five9 by 43.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,130,995 shares of the software maker’s stock worth $33,692,000 after acquiring an additional 343,399 shares during the last quarter. Royal Bank of Canada increased its holdings in Five9 by 20.6% in the 1st quarter. Royal Bank of Canada now owns 924,924 shares of the software maker’s stock worth $27,553,000 after acquiring an additional 157,812 shares during the last quarter. Finally, Eventide Asset Management LLC increased its holdings in Five9 by 55.2% in the 1st quarter. Eventide Asset Management LLC now owns 894,000 shares of the software maker’s stock worth $26,632,000 after acquiring an additional 318,000 shares during the last quarter. 96.30% of the stock is owned by institutional investors.

About Five9

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.

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Analyst Recommendations for Five9 (NASDAQ:FIVN)

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