Five9 (NASDAQ:FIVN) Price Target Cut to $80.00 by Analysts at Rosenblatt Securities

Five9 (NASDAQ:FIVN) had its price objective lowered by Rosenblatt Securities from $90.00 to $80.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. 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 note on Friday, January 12th. KeyCorp decreased their price target on shares of Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Barclays decreased their price target on shares of Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Canaccord Genuity Group decreased their price target on shares of Five9 from $90.00 to $75.00 and set a buy rating for the company in a research note on Monday, April 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Five9 from $100.00 to $90.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $85.47.

Five9 Price Performance

NASDAQ FIVN opened at $58.98 on Friday. The company has a 50-day simple moving average of $61.00 and a two-hundred day simple moving average of $68.62. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.53 and a current ratio of 5.53. Five9 has a 12-month low of $51.01 and a 12-month high of $92.40.

Five9 (NASDAQ:FIVN) last posted its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. The company had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. As a group, equities analysts predict that Five9 will post -0.42 earnings per share 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 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

Several institutional investors and hedge funds have recently made changes to their positions in the company. 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 valued at $36,000 after acquiring an additional 144 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Five9 by 0.5% during the third 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 in the last quarter. Arizona State Retirement System increased its position in shares of Five9 by 0.9% during the third 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 in the last quarter. US Bancorp DE boosted its holdings in Five9 by 1.4% in the fourth quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock worth $1,340,000 after purchasing an additional 228 shares during the last quarter. Finally, Schechter Investment Advisors LLC raised its stake in Five9 by 4.5% during the 3rd quarter. Schechter Investment Advisors LLC now owns 6,319 shares of the software maker’s stock valued at $406,000 after buying an additional 273 shares during the last quarter. Institutional investors 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.