Five9 (NASDAQ:FIVN) Receives Buy Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed a buy rating for Five9 (NASDAQ:FIVN) with a price target of $40.00, indicating a potential upside of 64.58% from its current trading price.
• Recent quarterly earnings showed Five9 reporting earnings per share of $0.62, exceeding analysts' expectations of $0.48, while revenue grew by 13.2% year-over-year to $279.71 million.
• Insider trading activity includes sales from the Chief Accounting Officer and President, totaling approximately $218,296, as insiders sold 32,866 shares of the company stock in the last quarter.

Five9 (NASDAQ:FIVN - Get Free Report)'s stock had its "buy" rating reaffirmed by Canaccord Genuity Group in a research note issued to investors on Friday,Benzinga reports. They currently have a $40.00 price objective on the software maker's stock. Canaccord Genuity Group's price target suggests a potential upside of 64.58% from the stock's current price.

A number of other equities research analysts have also issued reports on FIVN. Mizuho lowered their target price on Five9 from $55.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their price objective on Five9 from $45.00 to $23.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 price objective on shares of Five9 in a report on Friday. Morgan Stanley cut their price objective on Five9 from $48.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, KeyCorp assumed coverage on shares of Five9 in a report on Friday, June 6th. They issued an "overweight" rating and a $35.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $41.95.

Five9 Stock Performance

Five9 stock traded down $1.53 during mid-day trading on Friday, reaching $24.31. 2,454,997 shares of the company were exchanged, compared to its average volume of 1,861,279. Five9 has a twelve month low of $21.04 and a twelve month high of $49.90. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.02 and a current ratio of 2.02. The firm's 50-day simple moving average is $27.46 and its two-hundred day simple moving average is $30.14. The firm has a market cap of $1.85 billion, a PE ratio of -269.77, a price-to-earnings-growth ratio of 2.60 and a beta of 1.19.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Five9 had a positive return on equity of 6.06% and a negative net margin of 0.48%. The company had revenue of $279.71 million during the quarter, compared to the consensus estimate of $272.26 million. During the same quarter last year, the business posted $0.48 earnings per share. Five9's revenue was up 13.2% compared to the same quarter last year. Equities analysts predict that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In related news, CAO Leena Mansharamani sold 2,938 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $27.83, for a total transaction of $81,764.54. Following the completion of the sale, the chief accounting officer owned 44,901 shares in the company, valued at $1,249,594.83. This represents a 6.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Andy Dignan sold 4,845 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.18, for a total value of $136,532.10. Following the completion of the sale, the president directly owned 227,839 shares of the company's stock, valued at $6,420,503.02. This represents a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,866 shares of company stock valued at $913,042 in the last quarter. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Five9

Large investors have recently bought and sold shares of the stock. Quantinno Capital Management LP bought a new stake in shares of Five9 in the 4th quarter worth approximately $287,000. Royal Bank of Canada lifted its holdings in shares of Five9 by 6.0% during the fourth quarter. Royal Bank of Canada now owns 369,001 shares of the software maker's stock valued at $14,997,000 after acquiring an additional 20,775 shares during the period. Man Group plc bought a new stake in shares of Five9 in the 4th quarter worth about $354,000. Geode Capital Management LLC increased its position in shares of Five9 by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker's stock worth $53,558,000 after purchasing an additional 105,265 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Five9 by 60.1% during the 4th quarter. Cetera Investment Advisers now owns 13,407 shares of the software maker's stock valued at $545,000 after purchasing an additional 5,032 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.