Five9 (NASDAQ:FIVN) Price Target Cut to $50.00

Five9 (NASDAQ:FIVN) had its price objective dropped by Northland Securities from $95.00 to $50.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Northland Securities’ price objective would indicate a potential upside of 60.15% from the stock’s current price.

FIVN has been the topic of a number of other research reports. Canaccord Genuity Group lowered 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. Robert W. Baird lowered Five9 from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $90.00 to $40.00 in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Five9 in a research report on Thursday, June 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Five9 in a research report on Friday, May 3rd. Finally, Morgan Stanley lowered their price objective on Five9 from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.82.

Five9 Price Performance

NASDAQ:FIVN traded down $11.25 during trading hours on Friday, reaching $31.22. 13,572,495 shares of the company traded hands, compared to its average volume of 1,377,451. The firm’s 50-day moving average is $42.66 and its 200-day moving average is $55.11. The stock has a market cap of $2.31 billion, a P/E ratio of -36.73 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. Five9 has a 1-year low of $28.75 and a 1-year high of $92.40.

Five9 (NASDAQ:FIVN) last announced its earnings results on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. The firm had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $244.54 million. Five9 had a negative return on equity of 9.09% and a negative net margin of 6.56%. Equities research analysts expect that Five9 will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Five9

In related news, CFO Barry Zwarenstein sold 10,291 shares of Five9 stock in a transaction on Monday, June 10th. The stock was sold at an average price of $42.64, for a total value of $438,808.24. Following the transaction, the chief financial officer now owns 107,255 shares in the company, valued at $4,573,353.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Five9 news, CFO Barry Zwarenstein sold 10,291 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $42.64, for a total transaction of $438,808.24. Following the transaction, the chief financial officer now owns 107,255 shares in the company, valued at $4,573,353.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Panos Kozanian sold 6,893 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $319,145.90. Following the transaction, the executive vice president now owns 94,477 shares in the company, valued at approximately $4,374,285.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,385 shares of company stock worth $2,418,755. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI increased its position 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 worth $36,000 after acquiring an additional 144 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its position in shares of Five9 by 139.5% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after acquiring an additional 279 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Five9 by 136.0% during the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after acquiring an additional 306 shares during the last quarter. Quent Capital LLC increased its position in shares of Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after acquiring an additional 352 shares during the last quarter. Finally, Intrust Bank NA purchased a new stake in shares of Five9 during the fourth quarter worth about $202,000. 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.