Five9 (NASDAQ:FIVN) PT Lowered to $75.00

Five9 (NASDAQ:FIVN) had its price target cut by investment analysts at Canaccord Genuity Group from $90.00 to $75.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 24.71% from the stock’s current price.

FIVN has been the subject of a number of other research reports. Morgan Stanley lowered their target price on Five9 from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. KeyCorp lowered their target price on Five9 from $93.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Piper Sandler increased their target price on Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Wells Fargo & Company lowered their target price on Five9 from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Five9 in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Five9 currently has an average rating of “Moderate Buy” and an average price target of $86.13.

Five9 Price Performance

FIVN opened at $60.14 on Monday. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38. Five9 has a 12 month low of $51.01 and a 12 month high of $92.40. The company has a fifty day simple moving average of $61.90 and a 200 day simple moving average of $68.78. The stock has a market cap of $4.44 billion, a P/E ratio of -53.22 and a beta of 0.83.

Five9 (NASDAQ:FIVN) last released 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. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The business had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. On average, research analysts expect that Five9 will post -0.42 EPS for the current year.

Insider Activity at Five9

In related news, COO Andy Dignan sold 7,340 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of the sale, the chief operating officer now directly owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Five9

Several hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI lifted its stake in Five9 by 46.8% in the 4th 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. Treasurer of the State of North Carolina raised its holdings in Five9 by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 31,227 shares of the software maker’s stock valued at $2,008,000 after acquiring an additional 160 shares during the period. Arizona State Retirement System raised its holdings in Five9 by 0.9% in the 3rd quarter. Arizona State Retirement System now owns 20,266 shares of the software maker’s stock valued at $1,303,000 after acquiring an additional 172 shares during the period. US Bancorp DE raised its holdings in Five9 by 1.4% in the 4th quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock valued at $1,340,000 after acquiring an additional 228 shares during the period. Finally, Schechter Investment Advisors LLC raised its holdings in Five9 by 4.5% in the 3rd quarter. Schechter Investment Advisors LLC now owns 6,319 shares of the software maker’s stock valued at $406,000 after acquiring an additional 273 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.