Northland Securities Reaffirms “Buy” Rating for Five9, Inc. (FIVN)
Five9, Inc. (NASDAQ:FIVN)‘s stock had its “buy” rating reissued by stock analysts at Northland Securities in a note issued to investors on Friday. They presently have a $25.00 price target on the software maker’s stock. Northland Securities’ price target would suggest a potential upside of 18.26% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Pacific Crest restated a “buy” rating and issued a $22.00 price target on shares of Five9 in a research report on Thursday, May 4th. Morgan Stanley restated an “equal weight” rating and issued a $21.00 price target (up from $18.00) on shares of Five9 in a research report on Thursday, July 20th. Zacks Investment Research upgraded shares of Five9 from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Tuesday, July 4th. BidaskClub cut shares of Five9 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Canaccord Genuity upped their price target on shares of Five9 from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Five9 presently has a consensus rating of “Buy” and a consensus price target of $22.29.
Shares of Five9 (NASDAQ:FIVN) traded down 1.67% during trading on Friday, reaching $21.14. 472,603 shares of the company’s stock were exchanged. The stock’s market cap is $1.17 billion. Five9 has a 52-week low of $12.58 and a 52-week high of $24.80. The stock’s 50 day moving average price is $21.46 and its 200-day moving average price is $19.96.
In other news, CFO Barry Zwarenstein sold 12,622 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $22.44, for a total transaction of $283,237.68. Following the completion of the sale, the chief financial officer now directly owns 129,742 shares in the company, valued at $2,911,410.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott Welch sold 3,903 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $20.88, for a total transaction of $81,494.64. Following the sale, the executive vice president now owns 136,799 shares of the company’s stock, valued at $2,856,363.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,191 shares of company stock valued at $1,832,672. 9.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. USA Financial Portformulas Corp acquired a new stake in shares of Five9 during the second quarter worth $459,000. Wasatch Advisors Inc. acquired a new stake in shares of Five9 during the second quarter worth $3,159,000. Verition Fund Management LLC acquired a new stake in shares of Five9 during the second quarter worth $361,000. Castleark Management LLC increased its position in shares of Five9 by 0.7% during the second quarter. Castleark Management LLC now owns 431,966 shares of the software maker’s stock worth $9,296,000 after buying an additional 2,842 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Five9 by 42.0% during the second quarter. California State Teachers Retirement System now owns 92,400 shares of the software maker’s stock worth $1,988,000 after buying an additional 27,334 shares during the period. Institutional investors own 91.88% of the company’s stock.
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).
Receive News & Stock Ratings for Five9 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Five9 Inc. and related stocks with our FREE daily email newsletter.