Five9 (NASDAQ:FIVN) Given New $65.00 Price Target at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its target price cut by Wells Fargo & Company from $80.00 to $65.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

FIVN has been the topic of a number of other reports. UBS Group dropped their price target on shares of Five9 from $90.00 to $81.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Bank of America raised shares of Five9 from an underperform rating to a buy rating and set a $63.00 target price on the stock in a report on Monday, August 5th. Rosenblatt Securities reaffirmed a buy rating and set a $80.00 target price on shares of Five9 in a report on Friday, May 3rd. Robert W. Baird lowered shares of Five9 from an outperform rating to a neutral rating and decreased their target price for the stock from $90.00 to $40.00 in a report on Friday. Finally, Barclays decreased their target price on shares of Five9 from $75.00 to $55.00 and set an overweight rating on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $65.82.

Five9 Stock Performance

Shares of FIVN stock traded down $11.25 during trading on Friday, reaching $31.22. 13,572,495 shares of the company’s stock traded hands, compared to its average volume of 1,377,451. The company has a market capitalization of $2.31 billion, a P/E ratio of -36.73 and a beta of 0.82. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 2.41. The firm’s 50-day moving average is $42.66 and its 200 day moving average is $55.11. Five9 has a 1 year low of $28.75 and a 1 year high of $92.40.

Five9 (NASDAQ:FIVN) last announced its quarterly 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 company had revenue of $252.09 million for 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 expect that Five9 will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, CFO Barry Zwarenstein sold 10,291 shares of Five9 stock in a transaction on Monday, June 10th. The shares were sold at an average price of $42.64, for a total value of $438,808.24. Following the transaction, the chief financial officer now owns 107,255 shares in the company, valued at approximately $4,573,353.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Five9 news, CFO Barry Zwarenstein sold 10,291 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $42.64, for a total value of $438,808.24. Following the transaction, the chief financial officer now owns 107,255 shares in the company, valued at $4,573,353.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Burkland sold 12,386 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total transaction of $573,471.80. Following the completion of the transaction, the chief executive officer now owns 266,083 shares in the company, valued at approximately $12,319,642.90. The disclosure for this sale can be found here. Insiders have sold a total of 53,385 shares of company stock worth $2,418,755 in the last 90 days. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Five9

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Five9 during the 4th quarter valued at about $1,684,000. Mutual of America Capital Management LLC boosted its stake in shares of Five9 by 15.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 78,346 shares of the software maker’s stock valued at $6,165,000 after purchasing an additional 10,638 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Five9 by 9.9% during the 4th quarter. WCM Investment Management LLC now owns 295,566 shares of the software maker’s stock valued at $23,580,000 after purchasing an additional 26,533 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Five9 during the 4th quarter valued at about $966,000. Finally, Valliance Asset Management Ltd bought a new stake in shares of Five9 during the 4th quarter valued at about $488,000. Hedge funds and other 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.