Piper Sandler Cuts Five9 (NASDAQ:FIVN) Price Target to $58.00

Five9 (NASDAQ:FIVN) had its target price reduced by Piper Sandler from $86.00 to $58.00 in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the software maker’s stock.

Several other equities analysts have also commented on FIVN. Canaccord Genuity Group dropped their target price on Five9 from $90.00 to $75.00 and set a buy rating on the stock in a report on Monday, April 22nd. UBS Group cut their target price on Five9 from $90.00 to $81.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price target on shares of Five9 in a report on Thursday, June 6th. Royal Bank of Canada began coverage on shares of Five9 in a research note on Friday, March 15th. They issued an outperform rating and a $80.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Five9 from $85.00 to $80.00 and set an overweight rating for the company in a research report on Monday, June 10th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Five9 presently has an average rating of Moderate Buy and a consensus price target of $80.71.

Five9 Price Performance

FIVN stock opened at $43.74 on Wednesday. Five9 has a 1 year low of $39.07 and a 1 year high of $92.40. The firm has a market capitalization of $3.23 billion, a P/E ratio of -51.46 and a beta of 0.82. The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02. The business’s 50-day moving average is $46.20 and its two-hundred day moving average is $59.99.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. The company had revenue of $247.01 million during the quarter, compared to the consensus estimate of $239.72 million. Analysts anticipate that Five9 will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 12,386 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $573,471.80. Following the completion of the sale, the chief executive officer now directly owns 266,083 shares of the company’s stock, valued at approximately $12,319,642.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Five9 news, CEO Michael Burkland sold 12,386 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total transaction of $573,471.80. Following the completion of the transaction, the chief executive officer now owns 266,083 shares in the company, valued at approximately $12,319,642.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Leena Mansharamani sold 1,542 shares of Five9 stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total transaction of $71,348.34. Following the completion of the sale, the chief accounting officer now directly owns 38,267 shares in the company, valued at approximately $1,770,614.09. The disclosure for this sale can be found here. Insiders have sold 44,541 shares of company stock worth $2,024,537 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FIVN. Vanguard Group Inc. boosted its stake in shares of Five9 by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after acquiring an additional 150,786 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Five9 by 1.9% in the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after purchasing an additional 63,200 shares during the last quarter. Sylebra Capital LLC increased its stake in shares of Five9 by 1.5% during the 1st quarter. Sylebra Capital LLC now owns 2,347,108 shares of the software maker’s stock worth $145,779,000 after purchasing an additional 34,681 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Five9 by 0.8% during the 4th quarter. Eagle Asset Management Inc. now owns 1,035,554 shares of the software maker’s stock worth $81,488,000 after purchasing an additional 8,231 shares during the last quarter. Finally, Norges Bank purchased a new stake in Five9 in the 4th quarter valued at approximately $79,035,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.