Five9 (NASDAQ:FIVN) PT Lowered to $55.00 at Wells Fargo & Company

Five9 (NASDAQ:FIVN - Free Report) had its price target lowered by Wells Fargo & Company from $65.00 to $55.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the software maker's stock.

Several other equities analysts also recently commented on FIVN. Roth Mkm dropped their price objective on shares of Five9 from $90.00 to $67.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Truist Financial reissued a "buy" rating and set a $65.00 price objective on shares of Five9 in a report on Tuesday, August 27th. Rosenblatt Securities lowered their target price on Five9 from $80.00 to $70.00 and set a "buy" rating for the company in a report on Friday, August 9th. Piper Sandler reissued an "overweight" rating and set a $47.00 price target on shares of Five9 in a research note on Wednesday, August 21st. Finally, StockNews.com raised shares of Five9 from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Five9 Price Performance

FIVN stock traded down $0.17 during mid-day trading on Wednesday, hitting $29.99. The stock had a trading volume of 1,231,499 shares, compared to its average volume of 1,459,927. The firm has a fifty day simple moving average of $30.04 and a 200 day simple moving average of $41.58. The firm has a market capitalization of $2.22 billion, a P/E ratio of -35.28 and a beta of 0.85. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.39. Five9 has a 52 week low of $26.60 and a 52 week high of $92.40.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings data 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. Five9 had a negative net margin of 5.44% and a negative return on equity of 6.59%. The business had revenue of $252.09 million for the quarter, compared to analysts' expectations of $244.54 million. As a group, research analysts forecast that Five9 will post -0.09 EPS for the current year.

Insider Buying and Selling

In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of Five9 stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the sale, the chief financial officer now directly owns 101,732 shares of the company's stock, valued at approximately $2,743,712.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total value of $118,883.76. Following the completion of the sale, the chief financial officer now owns 101,732 shares of the company's stock, valued at approximately $2,743,712.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Daniel P. Burkland sold 2,637 shares of the company's stock in a transaction that occurred 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 transaction, the executive now directly owns 130,079 shares in the company, valued at $5,664,940.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,130 shares of company stock valued at $1,212,594 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Five9

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirador Capital Partners LP increased its holdings in Five9 by 6.2% during the 1st quarter. Mirador Capital Partners LP now owns 17,564 shares of the software maker's stock worth $1,091,000 after purchasing an additional 1,031 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Five9 by 1.9% in the 1st quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker's stock worth $214,875,000 after acquiring an additional 63,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Five9 by 12.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 429,007 shares of the software maker's stock valued at $26,807,000 after purchasing an additional 46,770 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Five9 during the first quarter valued at about $3,239,000. Finally, RiverPark Advisors LLC boosted its holdings in Five9 by 29.2% during the first quarter. RiverPark Advisors LLC now owns 28,162 shares of the software maker's stock worth $1,749,000 after purchasing an additional 6,371 shares during the last quarter. 96.64% of the stock is 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.