Five9 (NASDAQ:FIVN) PT Lowered to $85.00 at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its target price cut by Wells Fargo & Company from $90.00 to $85.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other analysts have also recently weighed in on the company. Canaccord Genuity Group reduced their price target on Five9 from $90.00 to $75.00 and set a buy rating for the company in a research report on Monday, April 22nd. Piper Sandler boosted their target price on Five9 from $84.00 to $86.00 and gave the stock an overweight rating in a report on Friday, January 12th. Needham & Company LLC reiterated a buy rating and set a $90.00 price target on shares of Five9 in a report on Friday. Barclays reduced their price objective on shares of Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada assumed coverage on shares of Five9 in a research note on Friday, March 15th. They issued an outperform rating and a $80.00 target price on the stock. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $84.88.

Five9 Stock Up 2.0 %

FIVN opened at $57.88 on Friday. The company has a market capitalization of $4.27 billion, a PE ratio of -68.09 and a beta of 0.85. The business has a 50-day moving average of $59.98 and a 200-day moving average of $68.53. Five9 has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 5.53 and a quick ratio of 5.53.

Five9 (NASDAQ:FIVN) last posted its earnings results on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.03%. The company had revenue of $239.06 million during the quarter, compared to the consensus estimate of $237.64 million. Equities research analysts forecast that Five9 will post -0.42 EPS for the current fiscal year.

Insider Activity at Five9

In other Five9 news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction 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 sale, the chief operating officer now owns 129,559 shares in the company, valued at $7,421,139.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Five9

A number of institutional investors have recently added to or reduced their stakes in FIVN. Assenagon Asset Management S.A. grew its position in Five9 by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after acquiring an additional 383,002 shares during the period. Vanguard Group Inc. increased its position in shares of Five9 by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock worth $465,291,000 after purchasing an additional 227,183 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Five9 by 966.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock valued at $22,411,000 after purchasing an additional 315,867 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Five9 by 11.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock worth $52,701,000 after purchasing an additional 81,744 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Five9 by 7.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock valued at $30,078,000 after buying an additional 25,075 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Company Profile

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.