Rosenblatt Securities Cuts Five9 (NASDAQ:FIVN) Price Target to $80.00

Five9 (NASDAQ:FIVN) had its price objective cut by investment analysts at Rosenblatt Securities from $90.00 to $80.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ target price indicates a potential upside of 35.64% from the company’s current price.

Several other research analysts have also weighed in on FIVN. Wells Fargo & Company lowered their target price on shares of Five9 from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Five9 in a research report on Thursday, February 22nd. KeyCorp lowered their price target on shares of Five9 from $93.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Piper Sandler increased their price target on shares of Five9 from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, January 12th. Finally, Morgan Stanley lowered their price target on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Five9 presently has an average rating of “Moderate Buy” and an average target price of $85.47.

Five9 Trading Down 1.6 %

NASDAQ FIVN opened at $58.98 on Friday. The stock has a market capitalization of $4.36 billion, a P/E ratio of -52.19 and a beta of 0.83. Five9 has a 52-week low of $51.01 and a 52-week high of $92.40. The firm has a 50-day moving average price of $61.00 and a 200 day moving average price of $68.65. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38.

Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share 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 for the quarter, compared to analyst estimates of $237.64 million. Equities research analysts expect that Five9 will post -0.42 EPS for the current year.

Insiders Place Their Bets

In other Five9 news, COO Andy Dignan sold 7,340 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction of $420,435.20. Following the transaction, the chief operating officer now owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Five9

A number of hedge funds have recently made changes to their positions in the business. Arcadia Investment Management Corp MI raised its stake in shares of Five9 by 46.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after acquiring an additional 144 shares during the period. Treasurer of the State of North Carolina grew its holdings in Five9 by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 31,227 shares of the software maker’s stock valued at $2,008,000 after purchasing an additional 160 shares in the last quarter. Arizona State Retirement System grew its holdings in Five9 by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 20,266 shares of the software maker’s stock valued at $1,303,000 after purchasing an additional 172 shares in the last quarter. US Bancorp DE grew its holdings in Five9 by 1.4% during the 4th quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock valued at $1,340,000 after purchasing an additional 228 shares in the last quarter. Finally, Schechter Investment Advisors LLC grew its holdings in Five9 by 4.5% during the 3rd quarter. Schechter Investment Advisors LLC now owns 6,319 shares of the software maker’s stock valued at $406,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other 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.