Wells Fargo & Company Trims Five9 (NASDAQ:FIVN) Target Price to $55.00

Five9 (NASDAQ:FIVN) had its price objective decreased by Wells Fargo & Company from $65.00 to $55.00 in a report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

Several other brokerages have also issued reports on FIVN. Morgan Stanley cut their target price on shares of Five9 from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and set a $47.00 target price on shares of Five9 in a research report on Wednesday, August 21st. StockNews.com raised shares of Five9 from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Baird R W downgraded Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Rosenblatt Securities decreased their price target on shares of Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Five9 Stock Down 4.1 %

Shares of NASDAQ:FIVN opened at $29.55 on Wednesday. Five9 has a 52-week low of $26.60 and a 52-week high of $92.40. The company has a fifty day moving average of $29.92 and a 200-day moving average of $41.30. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.18 billion, a PE ratio of -34.76 and a beta of 0.85.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) earnings per share 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 the consensus estimate 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 analysts predict that Five9 will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the transaction, the chief financial officer now owns 101,732 shares of the company’s stock, valued at $2,743,712.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total transaction of $118,883.76. Following the transaction, the chief financial officer now directly owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Panos Kozanian sold 7,617 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.02, for a total value of $228,662.34. Following the completion of the sale, the executive vice president now owns 76,628 shares of the company’s stock, valued at $2,300,372.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,130 shares of company stock worth $1,212,594 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Five9

A number of institutional investors have recently made changes to their positions in the business. Horrell Capital Management Inc. bought a new stake in Five9 in the third quarter worth $3,304,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Five9 in the 3rd quarter valued at about $316,000. Lecap Asset Management Ltd. purchased a new stake in Five9 during the 3rd quarter valued at about $1,714,000. Signaturefd LLC grew its position in Five9 by 1,892.3% during the 3rd quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock worth $30,000 after acquiring an additional 984 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Five9 during the 3rd quarter worth approximately $141,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

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.