Five9 (NASDAQ:FIVN) Price Target Cut to $85.00 by Analysts at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its price target lowered by Wells Fargo & Company from $90.00 to $85.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price target points to a potential upside of 46.86% from the company’s previous close.

Several other equities research analysts have also commented on the company. Piper Sandler upped their price objective on Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 price objective on shares of Five9 in a research report on Friday. KeyCorp lowered their price objective on Five9 from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley dropped their price target on shares of Five9 from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Five9 in a research note on Friday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Five9 has a consensus rating of “Moderate Buy” and a consensus target price of $84.88.

Five9 Trading Up 2.0 %

Shares of NASDAQ FIVN traded up $1.15 during trading hours on Friday, hitting $57.88. 3,913,043 shares of the company traded hands, compared to its average volume of 1,315,554. Five9 has a 12 month low of $51.01 and a 12 month high of $92.40. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -51.22 and a beta of 0.85. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. The company’s 50 day moving average price is $59.98 and its 200 day moving average price is $68.46.

Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. The business had revenue of $239.06 million for 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%. On average, equities research analysts anticipate that Five9 will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

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 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI lifted its position in shares of Five9 by 46.8% during the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after buying an additional 144 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in Five9 by 139.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after buying an additional 279 shares during the period. Headlands Technologies LLC grew its position in shares of Five9 by 136.0% in the 4th quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock valued at $42,000 after purchasing an additional 306 shares during the period. Intrust Bank NA acquired a new stake in shares of Five9 during the fourth quarter worth $202,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Five9 by 15.7% in the third quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock valued at $214,000 after purchasing an additional 452 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

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.