Five9 (NASDAQ:FIVN) Given New $55.00 Price Target at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its target price decreased by Wells Fargo & Company from $65.00 to $55.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

Several other analysts also recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $47.00 target price on shares of Five9 in a research note on Wednesday, August 21st. Barclays decreased their target price on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Morgan Stanley lowered their target price on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Northland Securities decreased their price objective on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Robert W. Baird downgraded shares of Five9 from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $40.00 in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Five9 Trading Down 4.1 %

NASDAQ FIVN opened at $29.55 on Wednesday. Five9 has a twelve month low of $26.60 and a twelve month high of $92.40. The firm has a market capitalization of $2.18 billion, a PE ratio of -34.76 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.39. The stock’s 50 day moving average is $29.92 and its 200 day moving average is $41.30.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results 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 return on equity of 6.59% and a negative net margin of 5.44%. The firm had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $244.54 million. Research analysts forecast that Five9 will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Andy Dignan sold 4,245 shares of Five9 stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.26, for a total transaction of $128,453.70. Following the transaction, the chief operating officer now directly owns 119,927 shares of the company’s stock, valued at $3,628,991.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CRO Daniel P. Burkland sold 2,637 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $43.55, for a total value of $114,841.35. Following the completion of the sale, the executive now directly owns 130,079 shares of the company’s stock, valued at $5,664,940.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andy Dignan sold 4,245 shares of the firm’s stock in a transaction 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 owns 119,927 shares in the company, valued at $3,628,991.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,130 shares of company stock worth $1,212,594 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FIVN. Signaturefd LLC lifted its position in shares of Five9 by 1,892.3% in the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Five9 during the 2nd quarter valued at approximately $57,000. nVerses Capital LLC bought a new stake in Five9 during the 3rd quarter valued at approximately $141,000. Quent Capital LLC lifted its holdings in Five9 by 8.7% in the 2nd quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock worth $193,000 after purchasing an additional 352 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in Five9 in the 1st quarter worth approximately $226,000. Institutional investors own 96.64% of the company’s stock.

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.