Five9 (NASDAQ:FIVN) Price Target Cut to $50.00 by Analysts at Northland Securities

Five9 (NASDAQ:FIVN) had its price target lowered by Northland Securities from $95.00 to $50.00 in a research report report published on Friday, Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

Several other equities analysts also recently issued reports on FIVN. Needham & Company LLC restated a buy rating and set a $90.00 price objective on shares of Five9 in a report on Thursday, June 6th. Bank of America raised shares of Five9 from an underperform rating to a buy rating and set a $63.00 price objective on the stock in a report on Monday, August 5th. Canaccord Genuity Group reduced their target price on Five9 from $90.00 to $75.00 and set a buy rating for the company in a research note on Monday, April 22nd. Robert W. Baird downgraded Five9 from an outperform rating to a neutral rating and dropped their price target for the company from $90.00 to $40.00 in a research note on Friday. Finally, Truist Financial reduced their price objective on Five9 from $100.00 to $65.00 and set a buy rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Five9 has an average rating of Moderate Buy and a consensus price target of $65.82.

Five9 Stock Down 26.5 %

Shares of FIVN traded down $11.25 during trading hours 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. The company’s fifty day moving average price is $42.66 and its two-hundred day moving average price is $55.11. Five9 has a one year low of $28.75 and a one year high of $92.40. 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 company has a market capitalization of $2.31 billion, a PE ratio of -36.73 and a beta of 0.82.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.14. The firm had revenue of $252.09 million during the quarter, compared to analyst estimates of $244.54 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. As a group, equities analysts forecast that Five9 will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Five9

In other Five9 news, EVP Panos Kozanian sold 6,893 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $319,145.90. Following the completion of the transaction, the executive vice president now owns 94,477 shares in the company, valued at $4,374,285.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Barry Zwarenstein sold 10,291 shares of Five9 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 sale, the chief financial officer now owns 107,255 shares in the company, valued at $4,573,353.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Panos Kozanian sold 6,893 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 transaction of $319,145.90. Following the sale, the executive vice president now directly owns 94,477 shares of the company’s stock, valued at approximately $4,374,285.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,385 shares of company stock worth $2,418,755. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FIVN. International Assets Investment Management LLC purchased a new position in shares of Five9 in the fourth quarter valued at approximately $1,684,000. Mutual of America Capital Management LLC lifted its holdings in Five9 by 15.7% in 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 Five9 by 9.9% during the 4th quarter. WCM Investment Management LLC now owns 295,566 shares of the software maker’s stock worth $23,580,000 after purchasing an additional 26,533 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in Five9 during the 4th quarter worth $966,000. Finally, Valliance Asset Management Ltd acquired a new stake in shares of Five9 in the fourth quarter valued at about $488,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

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.