Five9 (NASDAQ:FIVN) Price Target Cut to $47.00 by Analysts at Piper Sandler

Five9 (NASDAQ:FIVN) had its target price cut by analysts at Piper Sandler from $58.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s target price points to a potential upside of 50.54% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group lowered their target price on Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Five9 in a research note on Thursday, June 6th. UBS Group cut their target price on Five9 from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Wells Fargo & Company lowered their price target on shares of Five9 from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Finally, StockNews.com raised shares of Five9 from a “sell” rating to a “hold” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Five9 has an average rating of “Moderate Buy” and a consensus target price of $65.82.

Five9 Price Performance

NASDAQ FIVN traded down $11.25 during mid-day trading on Friday, hitting $31.22. The stock had a trading volume of 13,572,495 shares, compared to its average volume of 1,377,451. The firm’s 50 day moving average is $42.66 and its 200 day moving average is $55.11. The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -36.73 and a beta of 0.82. Five9 has a twelve month low of $28.75 and a twelve month high of $92.40.

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

Insider Transactions at Five9

In other Five9 news, CRO Daniel P. Burkland sold 2,637 shares of Five9 stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $43.55, for a total value of $114,841.35. Following the completion of the transaction, the executive now directly owns 130,079 shares of the company’s stock, valued at approximately $5,664,940.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Five9 news, CRO Daniel P. Burkland sold 2,637 shares of Five9 stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $43.55, for a total value of $114,841.35. Following the completion of the transaction, the executive now directly owns 130,079 shares of the company’s stock, valued at approximately $5,664,940.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Daniel P. Burkland sold 7,698 shares of Five9 stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $356,417.40. Following the completion of the transaction, the executive now directly owns 127,635 shares of the company’s stock, valued at $5,909,500.50. The disclosure for this sale can be found here. Insiders sold a total of 53,385 shares of company stock worth $2,418,755 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. grew its position in shares of Five9 by 1,442.6% during the second quarter. Edgestream Partners L.P. now owns 65,543 shares of the software maker’s stock worth $2,890,000 after buying an additional 61,294 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Five9 by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 363,558 shares of the software maker’s stock worth $16,031,000 after acquiring an additional 72,204 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Five9 by 38.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock valued at $64,257,000 after purchasing an additional 406,188 shares during the last quarter. Herald Investment Management Ltd increased its position in shares of Five9 by 6.6% in the 2nd quarter. Herald Investment Management Ltd now owns 65,000 shares of the software maker’s stock valued at $2,866,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Five9 by 14.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 40,785 shares of the software maker’s stock valued at $1,799,000 after purchasing an additional 5,151 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Five9 Company Profile

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.