Five9 (NASDAQ:FIVN) Price Target Lowered to $22.00 at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its target price reduced by Wells Fargo & Company from $28.00 to $22.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

A number of other equities research analysts also recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Five9 in a research note on Friday, August 1st. Weiss Ratings restated a “sell (d)” rating on shares of Five9 in a report on Wednesday, October 8th. Morgan Stanley set a $30.00 target price on shares of Five9 in a research report on Tuesday, October 21st. DA Davidson reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Five9 in a report on Friday, September 12th. Finally, Barclays dropped their price target on Five9 from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Five9 has an average rating of “Moderate Buy” and an average target price of $35.65.

Five9 Price Performance

Five9 stock traded down $1.70 during midday 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 stock has a market cap of $1.53 billion, a P/E ratio of 220.47, a PEG ratio of 2.20 and a beta of 1.27. The stock’s fifty day moving average is $24.11 and its 200-day moving average is $25.80. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04. Five9 has a 12 month low of $17.97 and a 12 month high of $49.90.

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

Insider Buying and Selling

In other news, CEO Michael Burkland sold 18,425 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 $473,891.00. Following the transaction, the chief executive officer owned 367,562 shares of the company’s stock, valued at approximately $9,453,694.64. This represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Andy Dignan sold 7,614 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.48, for a total value 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. The trade was a 3.37% decrease in their ownership of the stock. 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 over the last three months. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Five9

Several hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new stake in Five9 in the second quarter worth $32,000. Global Retirement Partners LLC grew its holdings in shares of Five9 by 81.7% in the third quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock worth $30,000 after purchasing an additional 552 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Five9 in the third quarter worth about $45,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Five9 by 419.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock worth $61,000 after buying an additional 1,811 shares during the period. Finally, Quarry LP bought a new stake in Five9 during the 1st quarter valued at about $74,000. Institutional investors own 96.64% of the company’s stock.

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.