Analysts Are Upgrading These 5 Stocks

4. Five9, Inc. (NASDAQ:FIVN)

Number of Hedge Fund Holders: 45

Five9, Inc. (NASDAQ:FIVN) is a California-based company that provides cloud software for contact centers globally. It is placed fourth on our list of 10 stocks that analysts are upgrading.

On September 17, investment advisory Piper Sandler upgraded Five9, Inc. (NASDAQ:FIVN) stock to Overweight from Neutral but lowered the price target to $200 from $203, noting that the risk/reward setup for the firm was attractive ahead of the shareholder vote on a takeover bid.

At the end of the second quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $2.1 billion in Five9, Inc. (NASDAQ:FIVN), the same as in the preceding quarter worth $1.6 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Five9, Inc. (NASDAQ:FIVN) was one of them. Here is what the fund said:

“Five9 is a cloud-based contact center as a service software provider that is replacing aging on-premise legacy solutions that dominate the installed base. Companies are being forced to modernize and cloud penetration is still low; Five9 is positioned to benefit and should see further growth driven by its cross-selling add-on modules and an AI product that generates high revenue.”