Five9 (NASDAQ:FIVN) PT Lowered to $65.00

Five9 (NASDAQ:FIVN) had its price target cut by investment analysts at Truist Financial from $100.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Truist Financial’s target price points to a potential upside of 108.20% from the company’s previous close.

Several other research analysts have also issued reports on FIVN. Barclays reduced their target price on shares of Five9 from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 target price on shares of Five9 in a report on Friday, May 3rd. Piper Sandler cut their price target on Five9 from $58.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday. Canaccord Genuity Group dropped their price objective on Five9 from $90.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Five9 in a report on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.82.

Five9 Price Performance

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

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

Insiders Place Their Bets

In other news, CEO Michael Burkland sold 12,386 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the sale, the chief executive officer now directly owns 266,083 shares in the company, valued at $12,319,642.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael Burkland sold 12,386 shares of Five9 stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $573,471.80. Following the sale, the chief executive officer now directly owns 266,083 shares in the company, valued at $12,319,642.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Daniel P. Burkland sold 2,637 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $43.55, for a total transaction of $114,841.35. Following the completion of the sale, the executive now directly owns 130,079 shares in the company, valued at approximately $5,664,940.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,385 shares of company stock worth $2,418,755. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Several hedge funds have recently modified their holdings of the stock. Edgestream Partners L.P. boosted its position in Five9 by 1,442.6% during the second quarter. Edgestream Partners L.P. now owns 65,543 shares of the software maker’s stock valued at $2,890,000 after purchasing an additional 61,294 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Five9 by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 363,558 shares of the software maker’s stock valued at $16,031,000 after buying an additional 72,204 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 during the last quarter. Herald Investment Management Ltd increased its holdings in Five9 by 6.6% during the second quarter. Herald Investment Management Ltd now owns 65,000 shares of the software maker’s stock worth $2,866,000 after buying an additional 4,000 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Five9 by 14.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 40,785 shares of the software maker’s stock valued at $1,799,000 after acquiring an additional 5,151 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 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.