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

Five9 (NASDAQ:FIVNGet Free Report) had its price objective cut by investment analysts at Canaccord Genuity Group from $90.00 to $75.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 31.37% from the company’s previous close.

Several other research firms have also recently issued reports on FIVN. Morgan Stanley cut their price objective on Five9 from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Five9 in a research note on Thursday, February 22nd. Royal Bank of Canada began coverage on shares of Five9 in a research report on Friday, March 15th. They set an “outperform” rating and a $80.00 target price on the stock. Piper Sandler increased their target price on shares of Five9 from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Finally, Wells Fargo & Company decreased their price target on Five9 from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.13.

View Our Latest Stock Report on Five9

Five9 Stock Down 0.6 %

FIVN stock opened at $57.09 on Monday. The stock has a market capitalization of $4.22 billion, a PE ratio of -50.52 and a beta of 0.83. Five9 has a 52 week low of $51.01 and a 52 week high of $92.40. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $62.57 and a 200 day moving average of $68.83.

Five9 (NASDAQ:FIVNGet Free Report) last issued its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative return on equity of 12.51% and a negative net margin of 8.98%. The company had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. Sell-side analysts forecast that Five9 will post -0.42 earnings per share for the current year.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction of $420,435.20. Following the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Five9 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,286,789 shares of the software maker’s stock worth $573,397,000 after purchasing an additional 50,540 shares during the last quarter. Wellington Management Group LLP boosted its stake in Five9 by 22.9% in the first quarter. Wellington Management Group LLP now owns 3,775,202 shares of the software maker’s stock valued at $416,783,000 after acquiring an additional 703,002 shares during the period. Wasatch Advisors LP grew its holdings in shares of Five9 by 1.9% during the first quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock valued at $214,875,000 after purchasing an additional 63,200 shares during the last quarter. Sylebra Capital Ltd raised its position in shares of Five9 by 3.3% during the 1st quarter. Sylebra Capital Ltd now owns 2,576,950 shares of the software maker’s stock worth $186,288,000 after purchasing an additional 81,652 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Five9 by 13.9% during the 2nd quarter. Alliancebernstein L.P. now owns 2,501,692 shares of the software maker’s stock worth $206,265,000 after purchasing an additional 306,251 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

About Five9

(Get Free Report)

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.

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