Five9 (NASDAQ:FIVN) Price Target Cut to $26.00 by Analysts at Piper Sandler

Five9 (NASDAQ:FIVN) had its price objective lowered by Piper Sandler from $31.00 to $26.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

FIVN has been the topic of a number of other reports. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price target on shares of Five9 in a research note on Friday, August 1st. Wall Street Zen raised Five9 from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Zacks Research upgraded Five9 from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Rosenblatt Securities reiterated a “buy” rating and set a $36.00 price objective on shares of Five9 in a research note on Friday, August 1st. Finally, DA Davidson restated a “neutral” rating and issued a $28.00 target price on shares of Five9 in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.65.

Five9 Stock Performance

Shares of NASDAQ FIVN traded down $1.70 during trading on Friday, reaching $19.84. 12,900,498 shares of the stock traded hands, compared to its average volume of 1,958,337. The company has a debt-to-equity ratio of 1.04, a current ratio of 4.44 and a quick ratio of 4.44. The stock has a market capitalization of $1.53 billion, a P/E ratio of 220.47, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. Five9 has a 52-week low of $17.97 and a 52-week high of $49.90. The company has a 50-day moving average of $24.11 and a 200-day moving average of $25.80.

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

Insider Transactions at Five9

In other news, President Andy Dignan sold 7,614 shares of Five9 stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.48, for a total transaction of $194,004.72. Following the completion of the sale, the president owned 218,125 shares in the company, valued at approximately $5,557,825. This trade represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Leena Mansharamani sold 2,969 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.85, for a total transaction of $76,748.65. Following the completion of the transaction, the chief accounting officer owned 41,522 shares in the company, valued at approximately $1,073,343.70. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 60,781 shares of company stock worth $1,562,457. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Herald Investment Management Ltd increased its position in shares of Five9 by 24.4% during the 2nd quarter. Herald Investment Management Ltd now owns 262,000 shares of the software maker’s stock valued at $6,927,000 after purchasing an additional 51,400 shares during the last quarter. Gagnon Securities LLC lifted its position in Five9 by 7.5% in the 2nd quarter. Gagnon Securities LLC now owns 407,452 shares of the software maker’s stock worth $10,789,000 after buying an additional 28,393 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Five9 in the second quarter worth approximately $297,000. WCM Investment Management LLC grew its position in Five9 by 6.6% during the second quarter. WCM Investment Management LLC now owns 558,313 shares of the software maker’s stock valued at $14,929,000 after acquiring an additional 34,402 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 valued at $72,745,000 after acquiring an additional 1,996,628 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Five9 Company Profile

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.