Five9 (NASDAQ:FIVN) PT Lowered to $67.00

Five9 (NASDAQ:FIVN) had its target price decreased by equities researchers at Roth Mkm from $90.00 to $67.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Roth Mkm’s price target suggests a potential upside of 114.61% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Five9 in a research note on Thursday, June 6th. Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday, August 5th. StockNews.com raised Five9 from a “sell” rating to a “hold” rating in a report on Thursday. Canaccord Genuity Group cut their price objective on Five9 from $90.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Truist Financial lowered their target price on Five9 from $100.00 to $65.00 and set a “buy” rating on the stock in a report on Friday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Five9 has a consensus rating of “Moderate Buy” and an average price target of $65.82.

Five9 Stock Down 26.5 %

Shares of NASDAQ:FIVN traded down $11.25 on Friday, hitting $31.22. 13,572,495 shares of the company traded hands, compared to its average volume of 1,377,451. The stock has a 50 day simple moving average of $42.66 and a 200-day simple moving average of $55.11. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. The company has a market cap of $2.31 billion, a PE ratio of -36.73 and a beta of 0.82. Five9 has a 52 week low of $28.75 and a 52 week high of $92.40.

Five9 (NASDAQ:FIVN) last released its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. The business 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, research analysts expect that Five9 will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other Five9 news, CFO Barry Zwarenstein sold 10,291 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $42.64, for a total transaction of $438,808.24. Following the sale, the chief financial officer now directly owns 107,255 shares of the company’s stock, valued at $4,573,353.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Leena Mansharamani sold 1,542 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total transaction of $71,348.34. Following the completion of the transaction, the chief accounting officer now owns 38,267 shares in the company, valued at $1,770,614.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Barry Zwarenstein sold 10,291 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $42.64, for a total transaction of $438,808.24. Following the transaction, the chief financial officer now directly owns 107,255 shares of the company’s stock, valued at $4,573,353.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,385 shares of company stock valued at $2,418,755. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FIVN. Nordea Investment Management AB bought a new position in shares of Five9 during the 1st quarter valued at approximately $3,239,000. International Assets Investment Management LLC purchased a new position in shares of Five9 in the 4th quarter worth $1,684,000. Alberta Investment Management Corp bought a new stake in shares of Five9 in the 4th quarter worth about $2,254,000. Trexquant Investment LP bought a new stake in shares of Five9 in the 4th quarter worth about $1,364,000. Finally, Tairen Capital Ltd purchased a new stake in shares of Five9 during the 4th quarter valued at about $5,836,000. 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.