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

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

A number of other equities research analysts have also commented on FIVN. Truist Financial reissued a “buy” rating and set a $65.00 price objective on shares of Five9 in a report on Tuesday, August 27th. Roth Mkm decreased their price objective on shares of Five9 from $90.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Northland Securities decreased their price objective on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Bank of America upgraded shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, August 5th. Finally, Rosenblatt Securities cut their target price on shares of Five9 from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Five9 Stock Down 0.6 %

FIVN 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 debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15. Five9 has a twelve month low of $26.60 and a twelve month high of $92.40. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -35.28 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.14. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. The firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $244.54 million. Equities research analysts anticipate that Five9 will post -0.09 EPS for the current fiscal year.

Insider Activity at Five9

In related news, COO Andy Dignan sold 4,245 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total value of $128,453.70. Following the sale, the chief operating officer now directly owns 119,927 shares in the company, valued at $3,628,991.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Five9 news, COO Andy Dignan sold 4,245 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total transaction of $128,453.70. Following the sale, the chief operating officer now directly owns 119,927 shares in the company, valued at approximately $3,628,991.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Burkland sold 12,595 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.27, for a total transaction of $381,250.65. Following the sale, the chief executive officer now owns 253,488 shares in the company, valued at $7,673,081.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,130 shares of company stock worth $1,212,594 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Several hedge funds have recently bought and sold shares of FIVN. Sylebra Capital LLC raised its holdings in Five9 by 28.4% during the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock worth $132,908,000 after buying an additional 666,681 shares during the period. Point72 Asset Management L.P. raised its holdings in Five9 by 347.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after buying an additional 584,800 shares during the period. Van Berkom & Associates Inc. raised its holdings in Five9 by 52.3% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after buying an additional 446,151 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Five9 by 38.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after buying an additional 406,188 shares during the period. Finally, 272 Capital LP bought a new position in shares of Five9 during the 2nd quarter worth approximately $12,722,000. 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, 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.