Five9 (NASDAQ:FIVN) Given New $29.00 Price Target at Barclays

Five9 (NASDAQ:FIVN) had its price objective lowered by Barclays from $33.00 to $29.00 in a research note released on Friday,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

FIVN has been the subject of a number of other research reports. Rosenblatt Securities restated a “buy” rating and set a $36.00 price objective on shares of Five9 in a report on Friday, August 1st. Zacks Research raised Five9 from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Five9 in a report on Wednesday, October 8th. Wall Street Zen raised Five9 from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 target price on shares of Five9 in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.65.

Five9 Stock Performance

FIVN stock traded down $1.70 during midday trading on Friday, reaching $19.84. 12,900,498 shares of the company were exchanged, compared to its average volume of 1,958,337. Five9 has a one year low of $17.97 and a one year high of $49.90. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 220.47, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. The business has a 50-day moving average price of $24.11 and a two-hundred day moving average price of $25.80. The company has a debt-to-equity ratio of 1.04, a current ratio of 4.44 and a quick ratio of 4.44.

Five9 (NASDAQ:FIVN) last issued its quarterly earnings data on Friday, August 22nd. The software maker reported $0.76 earnings per share for the quarter. The company had revenue of $283.27 million for the quarter. Five9 had a net margin of 0.80% and a return on equity of 8.91%. Equities research analysts forecast that Five9 will post 0.28 EPS for the current year.

Insider Activity at Five9

In other Five9 news, President Andy Dignan sold 7,614 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.48, for a total value of $194,004.72. Following the transaction, the president directly owned 218,125 shares of the company’s stock, valued at $5,557,825. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tiffany N. Meriweather sold 7,861 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.72, for a total transaction of $202,184.92. Following the sale, the insider directly owned 218,978 shares of the company’s stock, valued at approximately $5,632,114.16. This trade represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,781 shares of company stock worth $1,562,457 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Five9

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voss Capital LP lifted its position in shares of Five9 by 211.4% during the 2nd quarter. Voss Capital LP now owns 3,250,000 shares of the software maker’s stock worth $86,060,000 after buying an additional 2,206,173 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Five9 by 292.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker’s stock worth $72,745,000 after acquiring an additional 1,996,628 shares in the last quarter. Norges Bank bought a new position in shares of Five9 in the second quarter worth about $39,056,000. Federated Hermes Inc. boosted its stake in shares of Five9 by 124,372.3% in the 2nd quarter. Federated Hermes Inc. now owns 830,230 shares of the software maker’s stock valued at $21,984,000 after purchasing an additional 829,563 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Five9 by 254.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 763,310 shares of the software maker’s stock valued at $20,724,000 after purchasing an additional 547,794 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States, India, 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.