Five9 (NASDAQ:FIVN) Given New $40.00 Price Target at Needham & Company LLC

Five9 (NASDAQ:FIVN - Free Report) had its price target decreased by Needham & Company LLC from $52.00 to $40.00 in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the software maker's stock.

Other equities analysts have also recently issued research reports about the company. Rosenblatt Securities restated a "buy" rating and set a $36.00 target price on shares of Five9 in a report on Friday. Royal Bank of Canada reissued an "outperform" rating and set a $65.00 price target on shares of Five9 in a research report on Wednesday, March 19th. William Blair restated an "outperform" rating on shares of Five9 in a research report on Thursday, March 13th. Morgan Stanley reduced their target price on Five9 from $48.00 to $28.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Mizuho lowered their price target on Five9 from $55.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Five9 currently has an average rating of "Moderate Buy" and an average price target of $43.58.

Five9 Price Performance

FIVN traded up $0.41 during midday trading on Friday, hitting $25.24. The company had a trading volume of 2,803,070 shares, compared to its average volume of 1,654,042. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The firm's 50-day simple moving average is $27.45 and its 200-day simple moving average is $34.91. Five9 has a twelve month low of $21.04 and a twelve month high of $58.76. The company has a market capitalization of $1.92 billion, a PE ratio of -126.19, a P/E/G ratio of 9.41 and a beta of 1.23.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings data 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 3.62% and a negative net margin of 1.23%. The firm had revenue of $279.71 million during the quarter, compared to analysts' expectations of $272.26 million. During the same period in the previous year, the business posted $0.48 EPS. The company's quarterly revenue was up 13.2% compared to the same quarter last year. Equities research analysts predict that Five9 will post 0.28 EPS for the current fiscal year.

Insider Activity at Five9

In other news, CEO Michael Burkland sold 12,595 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the transaction, the chief executive officer now directly owns 404,056 shares in the company, valued at $14,396,515.28. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Leena Mansharamani sold 1,135 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the sale, the chief accounting officer now owns 47,165 shares of the company's stock, valued at $1,424,383. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,574 shares of company stock valued at $1,004,346. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FIVN. Gagnon Securities LLC boosted its position in Five9 by 10.4% during the fourth quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker's stock worth $14,878,000 after purchasing an additional 34,597 shares during the period. Barclays PLC grew its stake in Five9 by 215.8% in the 3rd quarter. Barclays PLC now owns 242,187 shares of the software maker's stock valued at $6,956,000 after buying an additional 165,487 shares during the last quarter. Principal Financial Group Inc. bought a new position in Five9 in the 4th quarter valued at about $268,000. Janney Montgomery Scott LLC lifted its position in Five9 by 25.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,372 shares of the software maker's stock worth $1,438,000 after acquiring an additional 7,140 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker's stock worth $54,000 after acquiring an additional 1,315 shares during the period. 96.64% of the stock is currently owned by institutional investors.

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.