Five9 (NASDAQ:FIVN) Price Target Cut to $55.00

Five9 (NASDAQ:FIVN) had its price target decreased by equities researchers at Wells Fargo & Company from $65.00 to $55.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 78.57% from the company’s previous close.

A number of other brokerages have also recently issued reports on FIVN. Piper Sandler reissued an “overweight” rating and set a $47.00 price target on shares of Five9 in a research report on Wednesday, August 21st. Bank of America upgraded shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, August 5th. Roth Mkm cut their price target on Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Barclays lowered their price objective on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and issued a $65.00 target price on shares of Five9 in a research note on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Five9 presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Five9 Stock Performance

Five9 stock opened at $30.80 on Wednesday. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $92.40. The stock’s 50 day simple moving average is $29.98 and its two-hundred day simple moving average is $41.51. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -36.24 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.14. The company had revenue of $252.09 million for the quarter, compared to analyst estimates of $244.54 million. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. As a group, analysts expect that Five9 will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In other Five9 news, CRO Daniel P. Burkland sold 2,637 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $43.55, for a total transaction of $114,841.35. Following the completion of the sale, the executive now directly owns 130,079 shares in the company, valued at $5,664,940.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CRO Daniel P. Burkland sold 2,637 shares of Five9 stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total transaction of $114,841.35. Following the transaction, the executive now owns 130,079 shares in the company, valued at $5,664,940.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Panos Kozanian sold 7,617 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.02, for a total transaction of $228,662.34. Following the sale, the executive vice president now directly owns 76,628 shares of the company’s stock, valued at approximately $2,300,372.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,130 shares of company stock valued at $1,212,594. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its holdings in Five9 by 1,892.3% in the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Five9 in the second quarter worth $57,000. nVerses Capital LLC bought a new stake in shares of Five9 during the 3rd quarter valued at $141,000. Quent Capital LLC lifted its stake in shares of Five9 by 8.7% during the 2nd quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after buying an additional 352 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in Five9 in the 1st quarter worth $226,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

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.