Five9 (FIVN) Rating Increased to Strong-Buy at BidaskClub
Five9 (NASDAQ:FIVN) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.
FIVN has been the topic of a number of other research reports. Zacks Investment Research raised Five9 from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Friday, September 28th. Roth Capital increased their price objective on Five9 from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, November 7th. Dougherty & Co assumed coverage on Five9 in a report on Tuesday, October 16th. They set a “hold” rating on the stock. Stephens assumed coverage on Five9 in a report on Thursday, January 3rd. They set an “equal weight” rating and a $48.00 price objective on the stock. Finally, Morgan Stanley raised Five9 from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $37.00 to $54.00 in a report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $43.54.
Shares of NASDAQ FIVN traded down $0.64 during trading on Thursday, reaching $46.38. 584,081 shares of the stock traded hands, compared to its average volume of 833,688. Five9 has a 52-week low of $23.10 and a 52-week high of $49.50. The company has a debt-to-equity ratio of 1.56, a current ratio of 6.95 and a quick ratio of 6.95. The stock has a market capitalization of $2.73 billion, a PE ratio of -272.82, a P/E/G ratio of 105.66 and a beta of 0.53.
In other Five9 news, EVP Scott Welch sold 1,031 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $37.47, for a total value of $38,631.57. Following the transaction, the executive vice president now directly owns 77,992 shares in the company, valued at approximately $2,922,360.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Barry Zwarenstein sold 8,500 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $42.53, for a total value of $361,505.00. Following the completion of the transaction, the chief financial officer now owns 98,953 shares in the company, valued at $4,208,471.09. The disclosure for this sale can be found here. Insiders have sold a total of 117,040 shares of company stock worth $4,681,634 in the last three months. 5.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Five9 by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 258,063 shares of the software maker’s stock worth $11,275,000 after acquiring an additional 60,250 shares during the last quarter. EULAV Asset Management bought a new position in Five9 in the 3rd quarter worth about $1,197,000. Vanguard Group Inc increased its stake in Five9 by 19.3% in the 3rd quarter. Vanguard Group Inc now owns 6,338,262 shares of the software maker’s stock worth $276,920,000 after acquiring an additional 1,026,191 shares during the last quarter. Raymond James & Associates bought a new position in Five9 in the 2nd quarter worth about $335,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Five9 by 6.9% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 55,625 shares of the software maker’s stock worth $2,430,000 after acquiring an additional 3,570 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.
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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