Piper Sandler Lowers Five9 (NASDAQ:FIVN) Price Target to $26.00

Five9 (NASDAQ:FIVN) had its price objective cut by investment analysts at Piper Sandler from $31.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target suggests a potential upside of 31.05% from the stock’s current price.

A number of other research analysts have also weighed in on FIVN. Zacks Research raised shares of Five9 from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wells Fargo & Company started coverage on shares of Five9 in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $28.00 price objective for the company. DA Davidson reissued a “neutral” rating and set a $28.00 target price on shares of Five9 in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Five9 in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Five9 in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and an average price target of $35.65.

Five9 Stock Down 7.9%

Shares of NASDAQ:FIVN opened at $19.84 on Friday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 220.47, a PEG ratio of 2.20 and a beta of 1.27. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04. Five9 has a 12-month low of $17.97 and a 12-month high of $49.90. The business’s 50 day moving average is $24.11 and its 200 day moving average is $25.83.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. The business 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%. On average, sell-side analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In related news, insider Tiffany N. Meriweather sold 7,861 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total transaction of $202,184.92. Following the sale, the insider directly owned 218,978 shares in the company, valued at approximately $5,632,114.16. This represents a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bryan M. Lee sold 1,889 shares of Five9 stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total transaction of $48,585.08. Following the completion of the transaction, the chief financial officer owned 237,488 shares of the company’s stock, valued at $6,108,191.36. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 60,781 shares of company stock valued at $1,562,457. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Five9

Institutional investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D grew its position in shares of Five9 by 19.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 83,382 shares of the software maker’s stock valued at $2,018,000 after purchasing an additional 13,521 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Five9 by 254.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 24,277 shares of the software maker’s stock worth $588,000 after purchasing an additional 17,421 shares during the period. Herald Investment Management Ltd grew its holdings in Five9 by 7.6% during the 3rd quarter. Herald Investment Management Ltd now owns 282,000 shares of the software maker’s stock valued at $6,827,000 after buying an additional 20,000 shares in the last quarter. LSV Asset Management bought a new stake in shares of Five9 during the third quarter valued at about $131,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Five9 by 74.9% in the third quarter. ProShare Advisors LLC now owns 40,356 shares of the software maker’s stock worth $977,000 after buying an additional 17,276 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, 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.