Wells Fargo & Company Trims Five9 (NASDAQ:FIVN) Target Price to $85.00

Five9 (NASDAQ:FIVN) had its price target lowered by Wells Fargo & Company from $90.00 to $85.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other analysts have also recently issued reports on FIVN. Royal Bank of Canada assumed coverage on Five9 in a research report on Friday, March 15th. They set an outperform rating and a $80.00 target price on the stock. Needham & Company LLC reissued a buy rating and set a $90.00 price target on shares of Five9 in a research report on Friday. Barclays dropped their price objective on shares of Five9 from $105.00 to $95.00 and set an overweight rating on the stock in a report on Thursday, February 22nd. Morgan Stanley decreased their target price 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, Canaccord Genuity Group reduced their price objective on Five9 from $90.00 to $75.00 and set a buy rating for the company in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $84.88.

Five9 Price Performance

FIVN opened at $57.88 on Friday. 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 business’s fifty day simple moving average is $59.98 and its 200-day simple moving average is $68.53. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -68.09 and a beta of 0.85. 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.03%. The business had revenue of $239.06 million for the quarter, compared to the consensus estimate of $237.64 million. On average, equities research analysts anticipate that Five9 will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Andy Dignan sold 7,340 shares of the company’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 sale, the chief operating officer now directly owns 129,559 shares in the company, valued at $7,421,139.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

Hedge funds and other institutional investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI increased its holdings in Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after buying an additional 144 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in shares of 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 acquiring an additional 279 shares in the last quarter. Headlands Technologies LLC lifted its stake in 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 purchasing an additional 306 shares during the last quarter. Intrust Bank NA acquired a new position in Five9 in the fourth quarter valued at approximately $202,000. Finally, Inceptionr LLC purchased a new position in Five9 in the fourth quarter valued at approximately $215,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.