Five9 (NASDAQ:FIVN) Given New $65.00 Price Target at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its target price reduced by Wells Fargo & Company from $80.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

A number of other analysts have also recently weighed in on FIVN. Rosenblatt Securities restated a buy rating and issued a $80.00 price target on shares of Five9 in a research note on Friday, May 3rd. Barclays cut their target price on Five9 from $75.00 to $55.00 and set an overweight rating on the stock in a research report on Friday. StockNews.com raised Five9 from a sell rating to a hold rating in a report on Thursday. UBS Group cut their price objective on shares of Five9 from $90.00 to $81.00 and set a buy rating on the stock in a report on Friday, May 3rd. Finally, Roth Mkm reduced their price target on shares of Five9 from $90.00 to $67.00 and set a buy rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $65.82.

Five9 Stock Down 26.5 %

NASDAQ FIVN traded down $11.25 during trading hours on Friday, hitting $31.22. 13,572,495 shares of the company were exchanged, compared to its average volume of 1,377,451. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -36.73 and a beta of 0.82. The company has a 50 day moving average of $42.66 and a two-hundred day moving average of $55.11. Five9 has a 52-week low of $28.75 and a 52-week high of $92.40.

Five9 (NASDAQ:FIVN) last released its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.14. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. The firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $244.54 million. Equities research analysts anticipate that Five9 will post -0.3 earnings per share for the current year.

Insider Activity at Five9

In related news, CEO Michael Burkland sold 12,386 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the transaction, the chief executive officer now owns 266,083 shares in the company, valued at approximately $12,319,642.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Five9 news, CAO Leena Mansharamani sold 1,542 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.27, for a total transaction of $71,348.34. Following the transaction, the chief accounting officer now owns 38,267 shares in the company, valued at approximately $1,770,614.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Burkland sold 12,386 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the transaction, the chief executive officer now owns 266,083 shares in the company, valued at approximately $12,319,642.90. The disclosure for this sale can be found here. Insiders have sold 53,385 shares of company stock worth $2,418,755 in the last quarter. 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 FIVN. Arcadia Investment Management Corp MI increased its position in 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 purchasing an additional 144 shares during the period. Global Wealth Management Investment Advisory Inc. increased its position 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 purchasing an additional 279 shares during the period. Headlands Technologies LLC increased its position in Five9 by 136.0% during the 4th 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 period. Quent Capital LLC increased its position in Five9 by 8.7% during 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 during the period. Finally, Intrust Bank NA acquired a new position in Five9 during the 4th quarter worth approximately $202,000. Institutional investors and hedge funds 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 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.