Cantor Fitzgerald Issues Positive Forecast for Five9 (NASDAQ:FIVN) Stock Price

Five9 (NASDAQ:FIVN) had its price target raised by Cantor Fitzgerald from $46.00 to $57.00 in a research report report published on Friday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the software maker’s stock.

FIVN has been the subject of several other reports. Rosenblatt Securities raised their target price on shares of Five9 from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial restated a “buy” rating and set a $65.00 price target on shares of Five9 in a report on Tuesday, December 17th. Morgan Stanley raised their price target on shares of Five9 from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. DA Davidson raised their price target on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Piper Sandler raised their price target on shares of Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Five9 has an average rating of “Moderate Buy” and an average price target of $59.22.

Five9 Stock Performance

Shares of FIVN opened at $42.09 on Friday. Five9 has a one year low of $26.60 and a one year high of $65.71. The company has a 50-day moving average of $40.57 and a two-hundred day moving average of $35.89. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -84.18, a PEG ratio of 9.44 and a beta of 0.93. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN) last announced its earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a negative return on equity of 1.53% and a negative net margin of 3.66%. The firm had revenue of $278.66 million during the quarter, compared to analyst estimates of $267.70 million. On average, equities research analysts expect that Five9 will post 0.11 earnings per share for the current year.

Insider Activity

In other news, CFO Barry Zwarenstein sold 3,336 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $139,611.60. Following the transaction, the chief financial officer now owns 98,396 shares of the company’s stock, valued at $4,117,872.60. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andy Dignan sold 4,109 shares of Five9 stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total transaction of $171,961.65. Following the completion of the transaction, the chief operating officer now directly owns 115,818 shares in the company, valued at approximately $4,846,983.30. This represents a 3.43 % 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 90 days. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Five9

A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Five9 by 2.4% in the third quarter. FMR LLC now owns 11,159,760 shares of the software maker’s stock valued at $320,620,000 after purchasing an additional 259,820 shares during the period. Sylebra Capital LLC increased its position in Five9 by 59.4% during the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock worth $152,228,000 after acquiring an additional 1,396,496 shares during the period. Ameriprise Financial Inc. increased its position in Five9 by 353.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after acquiring an additional 1,867,137 shares during the period. Norges Bank bought a new position in Five9 during the fourth quarter worth $81,280,000. Finally, Wellington Management Group LLP increased its position in Five9 by 50.9% during the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after acquiring an additional 601,348 shares during the period. Institutional investors own 96.64% of the company’s stock.

Five9 Company Profile

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.