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

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

Other equities analysts have also issued reports about the stock. Piper Sandler dropped their price target on shares of Five9 from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley set a $30.00 target price on shares of Five9 in a report on Tuesday, October 21st. Barclays reduced their price target on shares of Five9 from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Friday. Wall Street Zen raised Five9 from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, Zacks Research raised Five9 from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Five9 presently has an average rating of “Moderate Buy” and a consensus target price of $35.65.

Five9 Stock Down 7.9%

FIVN stock opened at $19.84 on Friday. Five9 has a fifty-two week low of $17.97 and a fifty-two week high of $49.90. The company’s 50 day moving average price is $24.11 and its 200 day moving average price is $25.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 4.44 and a current ratio of 4.44. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 220.47, a PEG ratio of 2.20 and a beta of 1.27.

Five9 (NASDAQ:FIVN) last posted its earnings results on Friday, August 22nd. The software maker reported $0.76 EPS for the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%.The firm had revenue of $283.27 million for the quarter. On average, equities research analysts anticipate that Five9 will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Five9 news, insider Tiffany N. Meriweather sold 7,861 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total value of $202,184.92. Following the transaction, the insider directly owned 218,978 shares of the company’s stock, valued at approximately $5,632,114.16. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Leena Mansharamani sold 2,969 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer owned 41,522 shares of the company’s stock, valued at $1,073,343.70. This trade represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 60,781 shares of company stock worth $1,562,457. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Five9

Hedge funds have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its position in Five9 by 19.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 83,382 shares of the software maker’s stock worth $2,018,000 after purchasing an additional 13,521 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Five9 by 254.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 24,277 shares of the software maker’s stock valued at $588,000 after buying an additional 17,421 shares during the period. Herald Investment Management Ltd boosted its stake in shares of Five9 by 7.6% in the third quarter. Herald Investment Management Ltd now owns 282,000 shares of the software maker’s stock valued at $6,827,000 after buying an additional 20,000 shares in the last quarter. LSV Asset Management acquired a new position in Five9 during the third quarter worth $131,000. Finally, ProShare Advisors LLC raised its position in Five9 by 74.9% in the third quarter. ProShare Advisors LLC now owns 40,356 shares of the software maker’s stock worth $977,000 after acquiring an additional 17,276 shares in the last quarter. Institutional investors and hedge funds 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.