Five9, Inc. (NASDAQ:FIVN – Get Free Report)’s stock price fell 2.6% on Wednesday after Piper Sandler lowered their price target on the stock from $86.00 to $58.00. Piper Sandler currently has an overweight rating on the stock. Five9 traded as low as $40.61 and last traded at $40.74. 39,655 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 1,299,861 shares. The stock had previously closed at $41.81.
Several other equities analysts have also recently commented on the company. UBS Group cut their price target on Five9 from $90.00 to $81.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Five9 in a research note on Thursday, June 6th. Canaccord Genuity Group lowered their price objective on Five9 from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of Five9 in a research note on Friday, May 3rd. Finally, Wells Fargo & Company decreased their price target on Five9 from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.71.
Insider Buying and Selling
In related news, CFO Barry Zwarenstein sold 10,291 shares of Five9 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 completion of the transaction, the chief financial officer now owns 107,255 shares in the company, valued at $4,573,353.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Five9 news, CFO Barry Zwarenstein sold 10,291 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 107,255 shares in the company, valued at $4,573,353.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Burkland sold 12,386 shares of Five9 stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 90 days, insiders sold 44,541 shares of company stock worth $2,024,537. Company insiders own 1.80% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in FIVN. Sylebra Capital LLC bought a new stake in shares of Five9 during the third quarter worth $129,467,000. Norges Bank bought a new stake in shares of Five9 in the fourth quarter worth $79,035,000. Assenagon Asset Management S.A. grew its stake in shares of Five9 by 84.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock worth $65,931,000 after purchasing an additional 383,002 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Five9 by 123.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock worth $51,026,000 after purchasing an additional 358,887 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Five9 by 966.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock worth $22,411,000 after purchasing an additional 315,867 shares during the last quarter. 96.64% of the stock is owned by institutional investors.
Five9 Trading Down 4.3 %
The firm has a market cap of $2.95 billion, a price-to-earnings ratio of -47.06 and a beta of 0.82. The company has a debt-to-equity ratio of 2.41, a current ratio of 7.02 and a quick ratio of 7.02. The firm’s fifty day moving average is $46.79 and its 200-day moving average is $60.37.
Five9 (NASDAQ:FIVN – Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. The firm had revenue of $247.01 million for the quarter, compared to analyst estimates of $239.72 million. Equities analysts anticipate that Five9, Inc. will post -0.3 earnings per share for the current year.
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.