Five9 (NASDAQ:FIVN) PT Lowered to $85.00 at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its target price cut by Wells Fargo & Company from $90.00 to $85.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other research analysts have also commented on the stock. Morgan Stanley cut their price objective on shares of Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Piper Sandler increased their price target on shares of Five9 from $84.00 to $86.00 and gave the stock an overweight rating in a research report on Friday, January 12th. Barclays dropped their price target on shares of Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research report on Thursday, February 22nd. Needham & Company LLC reissued a buy rating and issued a $90.00 price target on shares of Five9 in a research report on Friday. Finally, Royal Bank of Canada initiated coverage on shares of Five9 in a research report on Friday, March 15th. They issued an outperform rating and a $80.00 price target for the company. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $84.88.

Five9 Stock Performance

Five9 stock traded up $1.15 on Friday, reaching $57.88. 3,913,144 shares of the stock were exchanged, compared to its average volume of 1,140,257. The stock has a market cap of $4.27 billion, a PE ratio of -68.09 and a beta of 0.85. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. Five9 has a twelve month low of $51.01 and a twelve month high of $92.40. The firm has a fifty day moving average price of $59.98 and a two-hundred day moving average price of $68.46.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. The business had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.03%. Sell-side analysts anticipate that Five9 will post -0.42 EPS for the current year.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 7,340 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction of $420,435.20. Following the sale, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI grew its stake in shares of Five9 by 46.8% during the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after purchasing an additional 144 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in Five9 by 139.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock valued at $38,000 after buying an additional 279 shares during the period. Headlands Technologies LLC lifted its holdings in Five9 by 136.0% in the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock valued at $42,000 after buying an additional 306 shares during the period. Intrust Bank NA acquired a new position in Five9 in the fourth quarter valued at approximately $202,000. Finally, Inceptionr LLC acquired a new position in Five9 in the fourth quarter valued at approximately $215,000. 96.64% of the stock is owned by institutional investors.

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.