Five9 (NASDAQ:FIVN) Cut to “Hold” at Baird R W

Baird R W lowered shares of Five9 (NASDAQ:FIVN) from a strong-buy rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

FIVN has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Five9 from $70.00 to $50.00 and set an equal weight rating on the stock in a research report on Friday, June 14th. Wells Fargo & Company decreased their target price on Five9 from $80.00 to $65.00 and set an overweight rating for the company in a research report on Friday. Piper Sandler dropped their price target on Five9 from $58.00 to $47.00 and set an overweight rating on the stock in a research report on Friday. StockNews.com upgraded Five9 from a sell rating to a hold rating in a research note on Thursday. Finally, UBS Group dropped their target price on shares of Five9 from $90.00 to $81.00 and set a buy rating on the stock in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Five9 currently has an average rating of Moderate Buy and an average target price of $65.82.

Five9 Price Performance

FIVN opened at $31.22 on Friday. The business has a fifty day moving average of $42.66 and a 200 day moving average of $55.11. The stock has a market cap of $2.31 billion, a P/E ratio of -36.73 and a beta of 0.82. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. Five9 has a 52-week low of $28.75 and a 52-week high of $92.40.

Five9 (NASDAQ:FIVN) last issued its earnings results on Thursday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Five9 will post -0.3 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Five9

Hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. lifted its position in Five9 by 1,442.6% during the 2nd quarter. Edgestream Partners L.P. now owns 65,543 shares of the software maker’s stock worth $2,890,000 after acquiring an additional 61,294 shares during the period. Dimensional Fund Advisors LP increased its holdings in Five9 by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 363,558 shares of the software maker’s stock worth $16,031,000 after buying an additional 72,204 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Five9 by 38.7% in the 2nd 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 period. Herald Investment Management Ltd raised its position in Five9 by 6.6% during the 2nd 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% during the 2nd 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 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.