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

Five9 (NASDAQ:FIVN) had its price objective cut by Canaccord Genuity Group from $90.00 to $75.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

FIVN has been the subject of a number of other reports. Wells Fargo & Company lowered their price target on shares of Five9 from $100.00 to $90.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada initiated coverage on shares of Five9 in a research report on Friday, March 15th. They set an outperform rating and a $80.00 price objective on the stock. KeyCorp reduced their price objective on shares of Five9 from $93.00 to $86.00 and set an overweight rating on the stock in a research report on Thursday, February 22nd. Barclays reduced their price objective on shares of Five9 from $105.00 to $95.00 and set an overweight rating on the stock in a research report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $90.00 target price on shares of Five9 in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $86.13.

Five9 Trading Down 0.6 %

Shares of FIVN opened at $59.92 on Monday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -53.03 and a beta of 0.83. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.53 and a current ratio of 5.53. Five9 has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The firm has a 50 day moving average price of $61.27 and a 200-day moving average price of $68.66.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.14. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The firm had revenue of $239.06 million during the quarter, compared to analyst estimates of $237.64 million. As a group, equities research analysts forecast that Five9 will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Andy Dignan sold 7,340 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total value of $420,435.20. Following the transaction, the chief operating officer now owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FIVN. Oak Thistle LLC purchased a new position in shares of Five9 during the 3rd quarter valued at approximately $803,000. BW Gestao de Investimentos Ltda. purchased a new position in Five9 in the 3rd quarter valued at $3,215,000. Verdence Capital Advisors LLC lifted its holdings in Five9 by 12.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 5,329 shares of the software maker’s stock valued at $343,000 after purchasing an additional 591 shares in the last quarter. TD Asset Management Inc lifted its holdings in Five9 by 2.4% in the 3rd quarter. TD Asset Management Inc now owns 51,604 shares of the software maker’s stock valued at $3,318,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Five9 by 8.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 352,904 shares of the software maker’s stock valued at $22,692,000 after purchasing an additional 27,329 shares in the last quarter. 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 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.