Five9, Inc. (FIVN) Given “Buy” Rating at KeyCorp
KeyCorp reiterated their buy rating on shares of Five9, Inc. (NASDAQ:FIVN) in a research report released on Friday morning. The firm currently has a $27.00 price objective on the software maker’s stock.
FIVN has been the subject of several other reports. Canaccord Genuity lifted their target price on Five9 from $23.00 to $25.00 and gave the company a buy rating in a research note on Friday, August 4th. Northland Securities reissued a buy rating and issued a $25.00 target price on shares of Five9 in a research note on Wednesday, October 4th. Needham & Company LLC reissued a buy rating and issued a $26.00 target price (up from $21.00) on shares of Five9 in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Five9 from a hold rating to a buy rating and set a $24.00 price target on the stock in a research report on Tuesday, July 4th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Five9 presently has a consensus rating of Buy and a consensus price target of $23.00.
Shares of Five9 (FIVN) traded down 0.04% during mid-day trading on Friday, hitting $24.75. The stock had a trading volume of 13,105 shares. The stock’s market cap is $1.36 billion. The firm’s 50-day moving average price is $23.82 and its 200 day moving average price is $21.95. Five9 has a 12-month low of $12.58 and a 12-month high of $26.00.
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In other news, CFO Barry Zwarenstein sold 3,020 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $21.01, for a total value of $63,450.20. Following the transaction, the chief financial officer now directly owns 126,722 shares in the company, valued at approximately $2,662,429.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel P. Burkland sold 10,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $24.88, for a total value of $248,800.00. Following the completion of the transaction, the executive vice president now owns 146,436 shares in the company, valued at $3,643,327.68. The disclosure for this sale can be found here. Insiders sold a total of 91,007 shares of company stock worth $2,000,973 over the last 90 days. 9.10% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in Five9 by 4,389.5% during the second quarter. BNP Paribas Arbitrage SA now owns 5,567 shares of the software maker’s stock worth $120,000 after acquiring an additional 5,443 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Five9 during the second quarter worth about $202,000. Principal Financial Group Inc. bought a new position in Five9 during the second quarter worth about $219,000. KCG Holdings Inc. bought a new position in Five9 during the first quarter worth about $236,000. Finally, D.A. Davidson & CO. lifted its holdings in Five9 by 20.8% during the second quarter. D.A. Davidson & CO. now owns 11,476 shares of the software maker’s stock worth $246,000 after acquiring an additional 1,976 shares in the last quarter. Institutional investors and hedge funds own 91.13% 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).
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