Wells Fargo & Company Trims Five9 (NASDAQ:FIVN) Target Price to $55.00

Five9 (NASDAQ:FIVN) had its target price cut by research analysts at Wells Fargo & Company from $65.00 to $55.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 84.01% from the stock’s previous close.

Several other brokerages have also recently commented on FIVN. Piper Sandler reaffirmed an “overweight” rating and set a $47.00 price objective on shares of Five9 in a research note on Wednesday, August 21st. Morgan Stanley decreased their price objective on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Northland Securities cut their price target on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. BTIG Research lowered their price objective on shares of Five9 from $100.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Barclays reduced their target price on Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Five9 presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Five9 Stock Performance

FIVN traded down $0.27 on Wednesday, hitting $29.89. The company’s stock had a trading volume of 161,114 shares, compared to its average volume of 1,454,708. Five9 has a 12 month low of $26.60 and a 12 month high of $92.40. The firm has a market cap of $2.21 billion, a P/E ratio of -35.05 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 company’s 50 day simple moving average is $30.08 and its 200-day simple moving average is $41.66.

Five9 (NASDAQ:FIVN) last posted 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 during the quarter, compared to analyst estimates of $244.54 million. Analysts forecast that Five9 will post -0.09 EPS for the current year.

Insider Buying and Selling

In other news, CFO Barry Zwarenstein sold 4,408 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total transaction of $118,883.76. Following the transaction, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Barry Zwarenstein sold 4,408 shares of Five9 stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the sale, the chief financial officer now owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andy Dignan sold 4,245 shares of the 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 completion of the transaction, the chief operating officer now directly owns 119,927 shares of the company’s stock, valued at approximately $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 have sold 39,130 shares of company stock valued at $1,212,594 over the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIVN. Signaturefd LLC boosted its stake in Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Five9 in the 2nd quarter worth approximately $57,000. nVerses Capital LLC bought a new position in Five9 during the 3rd quarter valued at approximately $141,000. Quent Capital LLC raised its stake in Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after buying an additional 352 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new position in Five9 during the first quarter valued at $226,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

Five9 Company Profile

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.