Five9 (FIVN) Gets a Buy Rating from Needham
Needham analyst Scott Berg assigned a Buy rating to Five9 (FIVN) today and set a price target of $200.00. The company’s shares closed last Thursday at $174.26.
According to TipRanks.com, Berg is a top 25 analyst with an average return of 31.2% and a 73.8% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and BigCommerce Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Five9 with a $202.31 average price target, which is a 12.2% upside from current levels. In a report issued on April 19, Wells Fargo also maintained a Buy rating on the stock with a $220.00 price target.
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Based on Five9’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $128 million and GAAP net loss of $7.21 million. In comparison, last year the company earned revenue of $92.26 million and had a net profit of $836K.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FIVN in relation to earlier this year.
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Five9, Inc. engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization, and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.