Five9 (NASDAQ:FIVN) Price Target Cut to $55.00 by Analysts at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its price target cut by investment analysts at Wells Fargo & Company from $65.00 to $55.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 78.57% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Roth Mkm dropped their price objective on shares of Five9 from $90.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Northland Securities dropped their price target on Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Bank of America upgraded Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Monday, August 5th. Barclays dropped their target price on Five9 from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Baird R W lowered Five9 from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Five9 presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Five9 Price Performance

NASDAQ:FIVN opened at $30.80 on Wednesday. The business’s 50-day moving average is $29.98 and its 200 day moving average is $41.51. Five9 has a 12 month low of $26.60 and a 12 month high of $92.40. The company has a market capitalization of $2.28 billion, a P/E ratio of -36.24 and a beta of 0.85. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.14. The business had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $244.54 million. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. On average, equities research analysts forecast that Five9 will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Five9

In other Five9 news, COO Andy Dignan sold 4,245 shares of Five9 stock in a transaction on 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Panos Kozanian sold 7,617 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total transaction of $228,662.34. Following the transaction, the executive vice president now directly owns 76,628 shares of the company’s stock, valued at $2,300,372.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Andy Dignan sold 4,245 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.26, for a total value of $128,453.70. Following the completion of the transaction, the chief operating officer now directly owns 119,927 shares in the company, 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. Over the last quarter, insiders sold 39,130 shares of company stock worth $1,212,594. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FIVN. Sylebra Capital LLC increased its position in shares of Five9 by 28.4% in the second quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock valued at $132,908,000 after buying an additional 666,681 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Five9 by 347.4% in the second quarter. Point72 Asset Management L.P. now owns 753,127 shares of the software maker’s stock worth $33,213,000 after buying an additional 584,800 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Five9 by 38.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after buying an additional 406,188 shares in the last quarter. Finally, 272 Capital LP purchased a new position in shares of Five9 during the 2nd quarter worth $12,722,000. 96.64% of the stock is owned by institutional investors and hedge funds.

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.