Five9 (NASDAQ:FIVN) Price Target Cut to $75.00

Five9 (NASDAQ:FIVN) had its price target trimmed by Canaccord Genuity Group from $90.00 to $75.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other research firms also recently weighed in on FIVN. KeyCorp lowered their price target on shares of Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada assumed coverage on shares of Five9 in a research note on Friday, March 15th. They set an outperform rating and a $80.00 price objective for the company. Piper Sandler upped their price objective on shares of Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research note on Friday, January 12th. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price objective on shares of Five9 in a research note on Thursday, February 22nd. Finally, Morgan Stanley lowered their price objective on shares of Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Five9 currently has an average rating of Moderate Buy and an average target price of $86.13.

Five9 Stock Up 2.0 %

Shares of NASDAQ:FIVN opened at $58.25 on Monday. Five9 has a 52-week low of $51.01 and a 52-week high of $92.40. The firm has a fifty day moving average of $62.17 and a 200 day moving average of $68.81. The firm has a market capitalization of $4.30 billion, a PE ratio of -51.55 and a beta of 0.83. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.53 and a current ratio of 5.53.

Five9 (NASDAQ:FIVN) last announced its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.14. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The company had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. As a group, research analysts anticipate that Five9 will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Five9 news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the sale, the chief operating officer now owns 129,559 shares of the company’s stock, valued at approximately $7,421,139.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Large investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI grew its holdings in shares of Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after acquiring an additional 144 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Five9 by 139.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after acquiring an additional 279 shares during the period. Headlands Technologies LLC grew its holdings in shares of Five9 by 136.0% in the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after acquiring an additional 306 shares during the period. Intrust Bank NA bought a new stake in shares of Five9 in the fourth quarter worth $202,000. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Five9 by 15.7% in the third quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock worth $214,000 after acquiring an additional 452 shares during the period. Institutional investors own 96.64% of the company’s stock.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.