Truist Financial Reaffirms Buy Rating for Five9 (NASDAQ:FIVN)

Five9 (NASDAQ:FIVN)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a report issued on Tuesday,Benzinga reports. They currently have a $65.00 price target on the software maker’s stock. Truist Financial’s price objective points to a potential upside of 57.61% from the stock’s current price.

A number of other research firms have also recently weighed in on FIVN. Piper Sandler increased their price target on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC increased their target price on shares of Five9 from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday. Rosenblatt Securities lifted their price target on shares of Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their price objective on shares of Five9 from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Morgan Stanley decreased their price target on Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.18.

Five9 Stock Down 3.5 %

FIVN stock opened at $41.24 on Tuesday. The firm has a market cap of $3.10 billion, a PE ratio of -82.48, a PEG ratio of 28.88 and a beta of 0.92. Five9 has a one year low of $26.60 and a one year high of $81.72. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The firm’s 50 day moving average price is $36.36 and its 200-day moving average price is $36.69.

Insider Activity

In other news, CAO Leena Mansharamani sold 1,346 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total transaction of $55,630.18. Following the transaction, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at $1,468,289.58. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Burkland sold 12,594 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.40, for a total transaction of $521,391.60. Following the completion of the sale, the chief executive officer now owns 240,894 shares of the company’s stock, valued at $9,973,011.60. This trade represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,004 shares of company stock valued at $1,209,279 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FIVN. Scalar Gauge Management LLC purchased a new position in Five9 in the 2nd quarter valued at approximately $6,990,000. Massachusetts Financial Services Co. MA grew its holdings in Five9 by 14.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,667,922 shares of the software maker’s stock valued at $47,919,000 after purchasing an additional 210,836 shares during the last quarter. King Luther Capital Management Corp purchased a new position in shares of Five9 in the second quarter valued at $2,062,000. Van Berkom & Associates Inc. raised its stake in shares of Five9 by 52.3% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after buying an additional 446,151 shares during the last quarter. Finally, 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 buying an additional 98,543 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other 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.