Five9, Inc. (FIVN) Receives Average Rating of “Buy” from Analysts

Five9, Inc. (NASDAQ:FIVN) has been given an average rating of “Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $22.29.

FIVN has been the subject of several research reports. Zacks Investment Research cut shares of Five9 from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 target price (up from $18.00) on shares of Five9 in a report on Thursday, July 20th. Northland Securities set a $25.00 target price on shares of Five9 and gave the company a “buy” rating in a report on Wednesday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price (up from $21.00) on shares of Five9 in a report on Wednesday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 target price on shares of Five9 in a report on Monday, May 1st.

Five9 (FIVN) traded up 1.80% during midday trading on Friday, reaching $20.87. 278,388 shares of the company’s stock traded hands. Five9 has a 52-week low of $12.58 and a 52-week high of $24.80. The firm’s 50-day moving average is $21.89 and its 200 day moving average is $19.39. The firm’s market cap is $1.15 billion.

In related news, EVP Gaurav Passi sold 75,046 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $21.44, for a total transaction of $1,608,986.24. Following the completion of the transaction, the executive vice president now owns 132,980 shares in the company, valued at $2,851,091.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Burkland sold 12,484 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $21.00, for a total transaction of $262,164.00. Following the transaction, the chief executive officer now owns 976,091 shares of the company’s stock, valued at approximately $20,497,911. The disclosure for this sale can be found here. Over the last quarter, insiders sold 253,773 shares of company stock valued at $5,531,835. Company insiders own 9.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Bogle Investment Management L P DE raised its position in Five9 by 0.3% in the first quarter. Bogle Investment Management L P DE now owns 277,551 shares of the software maker’s stock valued at $4,568,000 after buying an additional 800 shares during the period. American International Group Inc. raised its position in Five9 by 7.1% in the first quarter. American International Group Inc. now owns 20,344 shares of the software maker’s stock valued at $335,000 after buying an additional 1,349 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Five9 by 6.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,172 shares of the software maker’s stock valued at $343,000 after buying an additional 1,488 shares during the period. Federated Investors Inc. PA raised its position in Five9 by 2.9% in the second quarter. Federated Investors Inc. PA now owns 62,034 shares of the software maker’s stock valued at $1,335,000 after buying an additional 1,750 shares during the period. Finally, California Public Employees Retirement System raised its position in Five9 by 4.7% in the second quarter. California Public Employees Retirement System now owns 39,700 shares of the software maker’s stock valued at $854,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 92.81% of the company’s stock.

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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).

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