Five9 (NASDAQ:FIVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $62.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.14% from the company’s current price.

According to Zacks, “Five9 provides cloud software for contact centers. The Company offers software products such as workforce management, speech recognition, predictive dialer, and voice applications. It offers virtual contact center cloud platform that acts as the hub for interactions between its clients and their customers, enabling contact center operations focused on inbound or outbound customer interactions in a single unified architecture. The Company serves customers in various industries, including banking and financial services, business process outsourcers, consumer, healthcare, and technology. Five9, Inc. is headquartered in San Ramon, California. “

Other research analysts have also issued reports about the stock. Morgan Stanley set a $58.00 target price on shares of Five9 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Needham & Company LLC boosted their target price on shares of Five9 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Craig Hallum reduced their target price on shares of Five9 from $64.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, February 20th. Canaccord Genuity boosted their target price on shares of Five9 from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. They noted that the move was a valuation call. Finally, SunTrust Banks boosted their target price on shares of Five9 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $52.92.

Five9 stock opened at $55.29 on Tuesday. The company has a quick ratio of 6.96, a current ratio of 6.96 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 368.60 and a beta of 0.63. Five9 has a 52-week low of $26.92 and a 52-week high of $57.90.

Five9 (NASDAQ:FIVN) last posted its earnings results on Tuesday, February 19th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10. The firm had revenue of $72.34 million during the quarter, compared to analyst estimates of $66.53 million. Five9 had a negative net margin of 0.09% and a positive return on equity of 7.20%. Equities analysts forecast that Five9 will post -0.05 EPS for the current fiscal year.

In other news, Director Jack L. Acosta sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $54.16, for a total value of $5,416,000.00. Following the completion of the sale, the director now directly owns 27,499 shares of the company’s stock, valued at approximately $1,489,345.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Barry Zwarenstein sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $42.53, for a total transaction of $361,505.00. Following the completion of the sale, the chief financial officer now directly owns 98,953 shares of the company’s stock, valued at $4,208,471.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,289 shares of company stock valued at $14,308,643. Company insiders own 5.10% of the company’s stock.

Large investors have recently modified their holdings of the company. Flinton Capital Management LLC acquired a new stake in shares of Five9 in the 4th quarter worth approximately $30,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Five9 in the 4th quarter worth approximately $34,000. Private Capital Group LLC lifted its stake in shares of Five9 by 263.4% in the 4th quarter. Private Capital Group LLC now owns 1,061 shares of the software maker’s stock worth $46,000 after acquiring an additional 769 shares during the period. Bank of Montreal Can raised its holdings in shares of Five9 by 58.3% in the 4th quarter. Bank of Montreal Can now owns 1,135 shares of the software maker’s stock worth $49,000 after purchasing an additional 418 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Five9 by 112.5% in the 4th quarter. Strs Ohio now owns 3,400 shares of the software maker’s stock worth $148,000 after purchasing an additional 1,800 shares in the last quarter. 99.94% of the stock is owned by institutional investors.

About Five9

Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. The company 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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