Needham & Company LLC Cuts Five9 (NASDAQ:FIVN) Price Target to $75.00

Five9 (NASDAQ:FIVNGet Rating) had its target price decreased by research analysts at Needham & Company LLC from $160.00 to $75.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 39.46% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on FIVN. Piper Sandler dropped their price objective on shares of Five9 from $77.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com began coverage on shares of Five9 in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Truist Financial dropped their target price on shares of Five9 from $150.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, October 17th. Barclays dropped their target price on shares of Five9 from $100.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Morgan Stanley cut shares of Five9 from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.27.

Five9 Trading Down 0.6 %

Shares of FIVN stock opened at $53.78 on Tuesday. Five9 has a 52-week low of $46.61 and a 52-week high of $168.50. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -45.58 and a beta of 0.63. The company has a debt-to-equity ratio of 3.01, a quick ratio of 4.50 and a current ratio of 4.50. The firm has a fifty day moving average of $70.64 and a 200-day moving average of $89.96.

Insider Activity

In other news, Director Kimberly Alexy sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $78.67, for a total value of $196,675.00. Following the transaction, the director now owns 11,117 shares of the company’s stock, valued at approximately $874,574.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kimberly Alexy sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $78.67, for a total value of $196,675.00. Following the transaction, the director now owns 11,117 shares of the company’s stock, valued at approximately $874,574.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Barry Zwarenstein sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $116.32, for a total transaction of $1,163,200.00. Following the completion of the transaction, the chief financial officer now directly owns 78,573 shares in the company, valued at approximately $9,139,611.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,146 shares of company stock valued at $2,409,790. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in Five9 by 1,247.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 283 shares of the software maker’s stock worth $25,000 after acquiring an additional 262 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Five9 by 1,142.3% during the 2nd quarter. Lindbrook Capital LLC now owns 323 shares of the software maker’s stock worth $29,000 after acquiring an additional 297 shares during the last quarter. Lazard Asset Management LLC bought a new position in Five9 during the 1st quarter worth approximately $41,000. Vestor Capital LLC bought a new position in Five9 during the 1st quarter worth approximately $42,000. Finally, Neo Ivy Capital Management boosted its stake in Five9 by 117.6% during the 2nd quarter. Neo Ivy Capital Management now owns 470 shares of the software maker’s stock worth $42,000 after acquiring an additional 254 shares during the last quarter.

Five9 Company Profile

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Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.

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