Five9 (NASDAQ:FIVN) Reaches New 1-Year Low After Analyst Downgrade

Five9, Inc. (NASDAQ:FIVN) shares hit a new 52-week low on Friday after Wells Fargo & Company lowered their price target on the stock from $28.00 to $22.00. Wells Fargo & Company currently has an equal weight rating on the stock. Five9 traded as low as $20.45 and last traded at $20.1320, with a volume of 427944 shares changing hands. The stock had previously closed at $21.54.

A number of other equities analysts also recently weighed in on the stock. Cantor Fitzgerald cut their price target on shares of Five9 from $36.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays cut their target price on Five9 from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Friday. Zacks Research raised Five9 from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price target on shares of Five9 in a research note on Friday, August 1st. Finally, Morgan Stanley set a $30.00 price objective on Five9 in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Five9 has an average rating of “Moderate Buy” and a consensus price target of $35.65.

Insider Activity at Five9

In other news, CFO Bryan M. Lee sold 1,889 shares of Five9 stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.72, for a total transaction of $48,585.08. Following the sale, the chief financial officer directly owned 237,488 shares of the company’s stock, valued at approximately $6,108,191.36. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Leena Mansharamani sold 2,969 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.85, for a total value of $76,748.65. Following the completion of the transaction, the chief accounting officer directly owned 41,522 shares of the company’s stock, valued at $1,073,343.70. This represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 60,781 shares of company stock valued at $1,562,457. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Five9

Several institutional investors and hedge funds have recently made changes to their positions in the business. Herald Investment Management Ltd increased its stake in Five9 by 24.4% during the second quarter. Herald Investment Management Ltd now owns 262,000 shares of the software maker’s stock valued at $6,927,000 after purchasing an additional 51,400 shares during the last quarter. Gagnon Securities LLC lifted its position in shares of Five9 by 7.5% in the 2nd quarter. Gagnon Securities LLC now owns 407,452 shares of the software maker’s stock worth $10,789,000 after buying an additional 28,393 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Five9 in the 2nd quarter valued at about $297,000. WCM Investment Management LLC grew its position in shares of Five9 by 6.6% during the 2nd quarter. WCM Investment Management LLC now owns 558,313 shares of the software maker’s stock valued at $14,929,000 after buying an additional 34,402 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Five9 by 292.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker’s stock valued at $72,745,000 after buying an additional 1,996,628 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Five9 Trading Down 7.9%

The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $24.11 and its two-hundred day moving average is $25.80. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 220.47, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27.

Five9 (NASDAQ:FIVN) last issued its earnings results on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. The company had revenue of $283.27 million during the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%. Equities analysts anticipate that Five9, Inc. will post 0.28 EPS for the current year.

Five9 Company Profile

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