Barclays Cuts Five9 (NASDAQ:FIVN) Price Target to $29.00

Five9 (NASDAQ:FIVN) had its price objective decreased by Barclays from $33.00 to $29.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

Other equities analysts have also issued reports about the company. Piper Sandler reduced their price objective on Five9 from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Five9 in a research report 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. Cantor Fitzgerald dropped their price objective on shares of Five9 from $36.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Morgan Stanley set a $30.00 target price on shares of Five9 in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued 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 Stock Down 7.9%

FIVN stock opened at $19.84 on Friday. The firm has a market capitalization of $1.53 billion, a PE ratio of 220.47, a P/E/G ratio of 2.20 and a beta of 1.27. 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 twelve month low of $17.97 and a twelve month high of $49.90. The stock’s 50 day moving average is $24.11 and its 200-day moving average is $25.85.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings results 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 during the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%. Sell-side analysts expect that Five9 will post 0.28 EPS for the current fiscal year.

Insider Transactions at Five9

In other Five9 news, CEO Michael Burkland sold 18,425 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $473,891.00. Following the sale, the chief executive officer owned 367,562 shares of the company’s stock, valued at $9,453,694.64. This trade represents a 4.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Leena Mansharamani sold 2,969 shares of Five9 stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.85, for a total value of $76,748.65. Following the sale, the chief accounting officer owned 41,522 shares of the company’s stock, valued at approximately $1,073,343.70. This trade represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 60,781 shares of company stock valued at $1,562,457. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Five9

Several hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in shares of Five9 during the 2nd quarter valued at $32,000. Global Retirement Partners LLC lifted its position in Five9 by 81.7% during the third quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock valued at $30,000 after buying an additional 552 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in Five9 in the 3rd quarter worth about $45,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Five9 by 419.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock valued at $61,000 after buying an additional 1,811 shares during the last quarter. Finally, Quarry LP purchased a new stake in Five9 during the 1st quarter valued at $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.