Wells Fargo & Company Issues Pessimistic Forecast for Five9 (NASDAQ:FIVN) Stock Price

Five9 (NASDAQ:FIVN) had its target price lowered by equities research analysts at Wells Fargo & Company from $28.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 11.06% from the company’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Five9 in a research report on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and issued a $36.00 target price on shares of Five9 in a research note on Friday, August 1st. Piper Sandler decreased their price target on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley set a $30.00 price target on shares of Five9 in a report on Tuesday, October 21st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $28.00 price objective on shares of Five9 in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.65.

Five9 Stock Performance

NASDAQ:FIVN traded down $1.73 during trading hours on Friday, hitting $19.81. 10,976,262 shares of the company traded hands, compared to its average volume of 1,946,017. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.04. Five9 has a twelve month low of $17.97 and a twelve month high of $49.90. The firm has a 50-day moving average of $24.25 and a 200 day moving average of $25.82. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 220.14, a P/E/G ratio of 2.20 and a beta of 1.27.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Friday, August 22nd. The software maker reported $0.76 earnings per share (EPS) for the quarter. Five9 had a net margin of 0.80% and a return on equity of 8.91%. The company had revenue of $283.27 million for the quarter. On average, analysts forecast that Five9 will post 0.28 EPS for the current year.

Insider Buying and Selling at Five9

In related news, President Andy Dignan sold 7,614 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $25.48, for a total value of $194,004.72. Following the sale, the president owned 218,125 shares in the company, valued at approximately $5,557,825. This represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Panos Kozanian sold 10,860 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.87, for a total value of $280,948.20. Following the sale, the executive vice president directly owned 105,315 shares of the company’s stock, valued at $2,724,499.05. This represents a 9.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,781 shares of company stock worth $1,562,457 in the last three months. 1.60% of the stock is owned by insiders.

Institutional Trading of Five9

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. grew its stake in Five9 by 4.4% in the 1st quarter. Xponance Inc. now owns 9,835 shares of the software maker’s stock valued at $267,000 after buying an additional 414 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Five9 by 36.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the software maker’s stock worth $39,000 after acquiring an additional 435 shares during the last quarter. State of Wyoming boosted its holdings in shares of Five9 by 11.5% during the first quarter. State of Wyoming now owns 5,260 shares of the software maker’s stock worth $143,000 after acquiring an additional 543 shares during the period. California State Teachers Retirement System grew its position in shares of Five9 by 0.8% in the second quarter. California State Teachers Retirement System now owns 69,189 shares of the software maker’s stock valued at $1,832,000 after purchasing an additional 549 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Five9 by 81.7% in the third quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock valued at $30,000 after purchasing an additional 552 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

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.