Five9 (NASDAQ:FIVN) Given New $23.00 Price Target at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its price objective cut by analysts at Wells Fargo & Company from $45.00 to $23.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the software maker’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.53% from the stock’s previous close.

A number of other brokerages have also recently commented on FIVN. Rosenblatt Securities reissued a “buy” rating and set a $58.00 target price on shares of Five9 in a report on Friday, April 4th. Barclays raised their target price on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Five9 in a report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Five9 in a research note on Friday, April 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Five9 in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Five9 Stock Down 3.3 %

Five9 stock opened at $21.59 on Tuesday. Five9 has a 12 month low of $21.04 and a 12 month high of $60.81. The stock has a market capitalization of $1.64 billion, a PE ratio of -107.94, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The business has a 50 day simple moving average of $30.45 and a 200-day simple moving average of $35.23.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The company had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. On average, analysts anticipate that Five9 will post 0.28 EPS for the current fiscal year.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the transaction, the chief executive officer now owns 404,056 shares in the company, valued at $14,396,515.28. The trade was a 3.02 % 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 1,517 shares of Five9 stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total transaction of $50,409.91. Following the sale, the chief accounting officer now directly owns 48,300 shares of the company’s stock, valued at approximately $1,605,009. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,574 shares of company stock worth $1,004,346. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC raised its position in shares of Five9 by 155.7% during the 4th quarter. Lindbrook Capital LLC now owns 854 shares of the software maker’s stock worth $35,000 after acquiring an additional 520 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Five9 during the 4th quarter worth approximately $36,000. Johnson Financial Group Inc. acquired a new position in shares of Five9 in the 4th quarter valued at $47,000. Steward Partners Investment Advisory LLC grew its position in shares of Five9 by 7,305.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock valued at $54,000 after buying an additional 1,315 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Five9 by 3,955.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,636 shares of the software maker’s stock worth $107,000 after acquiring an additional 2,571 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.