Wells Fargo & Company Cuts Five9 (NASDAQ:FIVN) Price Target to $85.00

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

A number of other research analysts have also recently weighed in on FIVN. Needham & Company LLC reiterated a buy rating and issued a $90.00 target price on shares of Five9 in a report on Friday. Barclays dropped their target price 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. Morgan Stanley reduced their price target on shares of Five9 from $80.00 to $70.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Rosenblatt Securities reissued a buy rating and issued a $80.00 price objective on shares of Five9 in a research report on Friday. Finally, Piper Sandler lifted their target price on shares of Five9 from $84.00 to $86.00 and gave the company an overweight rating in a report on Friday, January 12th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $84.88.

Five9 Stock Performance

NASDAQ FIVN opened at $55.69 on Friday. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $4.11 billion, a PE ratio of -65.52 and a beta of 0.85. The business’s 50-day moving average price is $59.83 and its 200 day moving average price is $68.49. Five9 has a twelve month low of $51.01 and a twelve month high of $92.40.

Five9 (NASDAQ:FIVN) last released its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.14. The business had revenue of $239.06 million for the quarter, compared to analysts’ expectations of $237.64 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. On average, research analysts predict that Five9 will post -0.42 earnings per share for the current year.

Insider Transactions at Five9

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

Institutional Investors Weigh In On Five9

Institutional investors and hedge funds have recently made changes to their positions in the company. Verdence Capital Advisors LLC increased its stake in Five9 by 12.5% during the third quarter. Verdence Capital Advisors LLC now owns 5,329 shares of the software maker’s stock valued at $343,000 after purchasing an additional 591 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Five9 by 2.4% in the 3rd quarter. TD Asset Management Inc now owns 51,604 shares of the software maker’s stock worth $3,318,000 after buying an additional 1,200 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Five9 by 8.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 352,904 shares of the software maker’s stock valued at $22,692,000 after buying an additional 27,329 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Five9 by 0.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 139,258 shares of the software maker’s stock valued at $8,954,000 after buying an additional 892 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in Five9 by 15.7% during the third quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock worth $214,000 after acquiring an additional 452 shares during the period. 96.64% of the stock is 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 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.