Five9 (NASDAQ:FIVN) Price Target Lowered to $75.00 at Canaccord Genuity Group

Five9 (NASDAQ:FIVN) had its price target reduced by Canaccord Genuity Group from $90.00 to $75.00 in a research note published on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the software maker’s stock.

Several other equities analysts also recently commented 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 research report on Thursday, February 22nd. Barclays decreased their price objective on Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada assumed coverage on Five9 in a research note on Friday, March 15th. They set an outperform rating and a $80.00 price objective for the company. Morgan Stanley decreased their price objective on Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Finally, KeyCorp decreased their price objective on Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $86.13.

Five9 Trading Up 0.2 %

Five9 stock opened at $60.28 on Monday. Five9 has a 52-week low of $51.01 and a 52-week high of $92.40. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38. The company has a market cap of $4.45 billion, a P/E ratio of -53.35 and a beta of 0.83. The business has a 50-day simple moving average of $61.58 and a two-hundred day simple moving average of $68.72.

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

Insider Activity

In other news, COO Andy Dignan sold 7,340 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FIVN. Arcadia Investment Management Corp MI increased its holdings in shares of Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after purchasing an additional 144 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings in Five9 by 139.5% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after acquiring an additional 279 shares during the period. Headlands Technologies LLC grew its holdings in Five9 by 136.0% during the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after acquiring an additional 306 shares during the period. Intrust Bank NA acquired a new stake in Five9 during the fourth quarter worth about $202,000. Finally, Orion Portfolio Solutions LLC grew its holdings in Five9 by 15.7% during the third quarter. Orion Portfolio Solutions LLC now owns 3,328 shares of the software maker’s stock worth $214,000 after acquiring an additional 452 shares during the period. 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.