Five9 (NASDAQ:FIVN) Price Target Lowered to $80.00 at Rosenblatt Securities

Five9 (NASDAQ:FIVN) had its price objective cut by Rosenblatt Securities from $90.00 to $80.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other analysts also recently issued reports on FIVN. Wells Fargo & Company cut their price objective on Five9 from $100.00 to $90.00 and set an overweight rating on the stock in a report on Thursday, February 22nd. Royal Bank of Canada began coverage on Five9 in a report on Friday, March 15th. They set an outperform rating and a $80.00 price objective on the stock. Morgan Stanley cut their price objective on Five9 from $80.00 to $70.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Needham & Company LLC reiterated a buy rating and issued a $90.00 target price on shares of Five9 in a report on Thursday, February 22nd. Finally, KeyCorp dropped their target price on Five9 from $93.00 to $86.00 and set an overweight rating on the stock in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $85.47.

Five9 Trading Up 0.4 %

NASDAQ FIVN opened at $59.24 on Friday. The company’s fifty day simple moving average is $60.73 and its 200-day simple moving average is $68.67. Five9 has a 52 week low of $51.01 and a 52 week high of $92.40. 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 stock has a market cap of $4.37 billion, a P/E ratio of -52.42 and a beta of 0.83.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The business had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. Equities research analysts predict that Five9 will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Five9 news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total transaction of $420,435.20. Following the completion of the sale, the chief operating officer now owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Five9

Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its position in shares of Five9 by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after acquiring an additional 383,002 shares during the period. Vanguard Group Inc. lifted its position in Five9 by 3.2% in the third quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock worth $465,291,000 after purchasing an additional 227,183 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Five9 by 966.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock worth $22,411,000 after purchasing an additional 315,867 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Five9 by 11.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock worth $52,701,000 after purchasing an additional 81,744 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Five9 by 7.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock worth $30,078,000 after purchasing an additional 25,075 shares during the period. 96.64% of the stock is owned by institutional investors.

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.