Five9 (NASDAQ:FIVN) Price Target Cut to $23.00 by Analysts at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its price target decreased by equities research analysts at Wells Fargo & Company from $45.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the software maker’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.53% from the company’s current price.

A number of other brokerages also recently issued reports on FIVN. Morgan Stanley cut their target price on Five9 from $48.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Five9 in a report on Friday, April 4th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 target price on shares of Five9 in a research report on Wednesday, March 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of Five9 in a report on Friday, April 4th. Finally, Barclays boosted their price objective on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Five9 Stock Down 3.3 %

FIVN 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 company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -107.94, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. The company has a fifty day moving average price of $30.45 and a 200 day moving average price of $35.23.

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

Insider Activity at Five9

In other news, CAO Leena Mansharamani sold 1,135 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total transaction of $34,277.00. Following the completion of the sale, the chief accounting officer now owns 47,165 shares in the company, valued at approximately $1,424,383. The trade was a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total transaction of $254,474.60. Following the sale, the executive vice president now owns 126,359 shares of the company’s stock, valued at approximately $4,220,390.60. This represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,574 shares of company stock worth $1,004,346. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Five9

A number of large investors have recently modified their holdings of the stock. Sylebra Capital LLC grew its holdings in Five9 by 59.4% during the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after purchasing an additional 1,396,496 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Five9 by 353.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock worth $97,356,000 after acquiring an additional 1,867,137 shares in the last quarter. Norges Bank purchased a new position in Five9 in the fourth quarter valued at about $81,280,000. Wellington Management Group LLP increased its holdings in Five9 by 50.9% during the 4th quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after purchasing an additional 601,348 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Five9 by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker’s stock valued at $53,558,000 after purchasing an additional 105,265 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.