Five9 (NASDAQ:FIVN) Price Target Cut to $55.00 by Analysts at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its price objective reduced by Wells Fargo & Company from $65.00 to $55.00 in a research note issued to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

FIVN has been the topic of a number of other reports. Baird R W downgraded shares of Five9 from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. StockNews.com raised shares of Five9 from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday, August 27th. Robert W. Baird downgraded shares of Five9 from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $40.00 in a research report on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $48.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Five9 Stock Performance

Five9 stock opened at $29.99 on Wednesday. The firm’s 50 day simple moving average is $30.04 and its 200-day simple moving average is $41.58. The company has a market cap of $2.22 billion, a P/E ratio of -35.28 and a beta of 0.85. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $92.40.

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

Insider Transactions at Five9

In other news, CAO Leena Mansharamani sold 1,395 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total value of $42,561.45. Following the completion of the sale, the chief accounting officer now directly owns 36,872 shares in the company, valued at approximately $1,124,964.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Leena Mansharamani sold 1,395 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.51, for a total transaction of $42,561.45. Following the completion of the transaction, the chief accounting officer now directly owns 36,872 shares in the company, valued at $1,124,964.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Burkland sold 12,595 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.27, for a total transaction of $381,250.65. Following the transaction, the chief executive officer now owns 253,488 shares of the company’s stock, valued at approximately $7,673,081.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,130 shares of company stock worth $1,212,594. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Five9

Several large investors have recently bought and sold shares of FIVN. Mirador Capital Partners LP raised its stake in Five9 by 6.2% during the 1st quarter. Mirador Capital Partners LP now owns 17,564 shares of the software maker’s stock valued at $1,091,000 after purchasing an additional 1,031 shares during the last quarter. Wasatch Advisors LP increased its holdings in Five9 by 1.9% in the 1st quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after buying an additional 63,200 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Five9 by 12.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 429,007 shares of the software maker’s stock valued at $26,807,000 after buying an additional 46,770 shares during the period. Nordea Investment Management AB bought a new stake in Five9 in the 1st quarter valued at $3,239,000. Finally, RiverPark Advisors LLC increased its holdings in Five9 by 29.2% in the 1st quarter. RiverPark Advisors LLC now owns 28,162 shares of the software maker’s stock valued at $1,749,000 after buying an additional 6,371 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.