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

Five9 (NASDAQ:FIVN) had its price objective trimmed by Rosenblatt Securities from $90.00 to $80.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley decreased their target price on Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price target on shares of Five9 in a research report on Thursday, February 22nd. KeyCorp decreased their price objective on Five9 from $93.00 to $86.00 and set an overweight rating on the stock in a report on Thursday, February 22nd. Royal Bank of Canada started coverage on Five9 in a research note on Friday, March 15th. They issued an outperform rating and a $80.00 price target on the stock. Finally, Piper Sandler lifted their price objective on Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $85.47.

Five9 Trading Up 0.4 %

NASDAQ FIVN opened at $59.24 on Friday. The stock has a market capitalization of $4.37 billion, a P/E ratio of -52.42 and a beta of 0.83. Five9 has a 12 month low of $51.01 and a 12 month 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. The firm’s 50-day moving average is $60.73 and its two-hundred day moving average is $68.67.

Five9 (NASDAQ:FIVN) last announced its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, beating 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 firm had revenue of $239.06 million during the quarter, compared to the consensus estimate of $237.64 million. On average, sell-side analysts anticipate that Five9 will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Five9

In other Five9 news, COO Andy Dignan sold 7,340 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the sale, the chief operating officer now owns 129,559 shares of the company’s stock, valued at approximately $7,421,139.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Several hedge funds have recently modified their holdings of FIVN. Sylebra Capital LLC acquired a new stake in shares of Five9 during the 3rd quarter valued at $129,467,000. Norges Bank bought a new position in Five9 during the 4th quarter worth $79,035,000. Assenagon Asset Management S.A. raised its position in Five9 by 84.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock worth $65,931,000 after purchasing an additional 383,002 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Five9 by 123.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock worth $51,026,000 after purchasing an additional 358,887 shares during the last quarter. Finally, UBS Group AG raised its position in Five9 by 162.6% during the 3rd quarter. UBS Group AG now owns 533,914 shares of the software maker’s stock worth $34,331,000 after purchasing an additional 330,567 shares during the last quarter. Institutional investors and hedge funds 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.