SunTrust Banks Increases Five9 (NASDAQ:FIVN) Price Target to $66.00

Five9 (NASDAQ:FIVN) had its price target increased by equities research analysts at SunTrust Banks to $66.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the software maker’s stock. SunTrust Banks’ price objective indicates a potential upside of 13.73% from the stock’s previous close.

Several other analysts have also issued reports on FIVN. Summit Insights raised Five9 from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. BidaskClub lowered Five9 from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. Stephens reaffirmed a “hold” rating and issued a $53.00 target price on shares of Five9 in a research note on Monday, April 29th. Northland Securities reaffirmed a “buy” rating on shares of Five9 in a research note on Thursday, May 2nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Five9 in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.31.

Shares of NASDAQ FIVN traded up $0.45 during midday trading on Thursday, hitting $58.03. 1,202,655 shares of the company’s stock were exchanged, compared to its average volume of 846,516. Five9 has a 12-month low of $33.02 and a 12-month high of $61.42. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $2.95 billion, a P/E ratio of 386.87 and a beta of 0.56. The firm has a fifty day moving average price of $51.16.

Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, July 31st. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. The business had revenue of $77.44 million during the quarter, compared to analyst estimates of $72.42 million. Five9 had a positive return on equity of 9.32% and a negative net margin of 0.47%. Five9’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. On average, equities research analysts forecast that Five9 will post -0.03 earnings per share for the current year.

In other news, CEO Rowan M. Trollope sold 91,591 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.95, for a total transaction of $4,300,197.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Burkland sold 300,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $49.98, for a total value of $14,994,000.00. Following the sale, the director now directly owns 101,821 shares of the company’s stock, valued at approximately $5,089,013.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 662,149 shares of company stock valued at $33,659,357. Insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Dorsey Wright & Associates boosted its stake in shares of Five9 by 33.3% during the second quarter. Dorsey Wright & Associates now owns 788 shares of the software maker’s stock valued at $40,000 after purchasing an additional 197 shares during the period. Mckinley Capital Management LLC Delaware boosted its stake in shares of Five9 by 27.9% during the first quarter. Mckinley Capital Management LLC Delaware now owns 989 shares of the software maker’s stock valued at $52,000 after purchasing an additional 216 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Five9 by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 43,544 shares of the software maker’s stock valued at $2,233,000 after purchasing an additional 434 shares during the period. Stephens Inc. AR boosted its stake in shares of Five9 by 13.8% during the second quarter. Stephens Inc. AR now owns 3,696 shares of the software maker’s stock valued at $190,000 after purchasing an additional 448 shares during the period. Finally, Winslow Evans & Crocker Inc. purchased a new stake in shares of Five9 during the first quarter valued at approximately $30,000.

Five9 Company Profile

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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Analyst Recommendations for Five9 (NASDAQ:FIVN)

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