Five9 (NASDAQ:FIVN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Five9 (NASDAQ:FIVN) from a buy rating to a strong-buy rating in a report released on Saturday.

A number of other research firms have also issued reports on FIVN. DA Davidson restated a “neutral” rating and issued a $28.00 price target on shares of Five9 in a research report on Friday, September 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Five9 in a research note on Monday, December 1st. Cantor Fitzgerald cut their target price on Five9 from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Wells Fargo & Company dropped their price objective on shares of Five9 from $28.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, Morgan Stanley set a $30.00 price objective on shares of Five9 in a research report on Tuesday, October 21st. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Five9 currently has an average rating of “Moderate Buy” and an average target price of $35.19.

Five9 Trading Up 0.8%

Shares of FIVN opened at $20.82 on Friday. Five9 has a 52-week low of $17.71 and a 52-week high of $49.90. The stock has a market cap of $1.63 billion, a PE ratio of 57.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.35. The firm’s fifty day moving average is $21.44 and its two-hundred day moving average is $24.89. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.96.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 earnings per share for the quarter. The firm had revenue of $283.27 million for the quarter. Five9 had a net margin of 2.77% and a return on equity of 10.59%. Research analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Five9 announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 11th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the software maker to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Tiffany N. Meriweather sold 6,852 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $20.35, for a total value of $139,438.20. Following the transaction, the insider directly owned 212,126 shares in the company, valued at approximately $4,316,764.10. This represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Burkland sold 17,992 shares of Five9 stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $20.35, for a total transaction of $366,137.20. Following the completion of the sale, the chief executive officer owned 349,570 shares of the company’s stock, valued at $7,113,749.50. This trade represents a 4.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 66,739 shares of company stock worth $1,364,010. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Five9

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in Five9 in the 2nd quarter valued at about $32,000. Global Retirement Partners LLC boosted its stake in shares of Five9 by 81.7% in the third quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock valued at $30,000 after purchasing an additional 552 shares during the period. Quarry LP acquired a new position in shares of Five9 in the third quarter valued at approximately $33,000. Advisory Services Network LLC acquired a new position in shares of Five9 in the third quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Five9 during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.