Truist Securities Lowers Five9 (NASDAQ:FIVN) Price Target to $190.00

Five9 (NASDAQ:FIVN) had its target price dropped by analysts at Truist Securities from $212.00 to $190.00 in a report issued on Monday, PriceTargets.com reports. The brokerage presently has a “hold” rating on the software maker’s stock. Truist Securities’ target price suggests a potential upside of 11.65% from the company’s previous close.

Several other research analysts also recently commented on FIVN. Morgan Stanley reiterated an “equal weight” rating and issued a $200.00 price objective on shares of Five9 in a report on Tuesday, July 20th. Jefferies Financial Group downgraded Five9 from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a report on Wednesday, July 28th. Truist cut their price objective on Five9 from $212.00 to $190.00 and set a “hold” rating on the stock in a research report on Monday. Craig Hallum cut Five9 from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Tuesday, July 20th. Finally, UBS Group lowered shares of Five9 from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $198.30.

NASDAQ:FIVN opened at $170.17 on Monday. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of -239.67 and a beta of 0.48. Five9 has a 52-week low of $120.66 and a 52-week high of $211.68. The stock has a fifty day moving average of $183.37 and a 200 day moving average of $175.93. The company has a debt-to-equity ratio of 4.75, a quick ratio of 4.80 and a current ratio of 4.80.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Tuesday, July 27th. The software maker reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.09. Five9 had a negative return on equity of 2.67% and a negative net margin of 9.11%. The business had revenue of $143.78 million for the quarter, compared to the consensus estimate of $132.46 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 44.1% on a year-over-year basis. Equities analysts forecast that Five9 will post -0.22 earnings per share for the current fiscal year.

In other news, President Daniel P. Burkland sold 2,323 shares of the company’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $169.58, for a total value of $393,934.34. Following the transaction, the president now directly owns 94,861 shares in the company, valued at approximately $16,086,528.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Barry Zwarenstein sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, September 17th. The stock was sold at an average price of $173.87, for a total transaction of $2,173,375.00. Following the completion of the transaction, the chief financial officer now owns 88,816 shares in the company, valued at $15,442,437.92. The disclosure for this sale can be found here. Insiders have sold 54,582 shares of company stock valued at $10,074,613 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its position in shares of Five9 by 10,448.9% in the 2nd quarter. Macquarie Group Ltd. now owns 2,318,755 shares of the software maker’s stock valued at $425,237,000 after purchasing an additional 2,296,774 shares during the last quarter. Waddell & Reed Financial Inc. boosted its holdings in shares of Five9 by 71.2% in the 1st quarter. Waddell & Reed Financial Inc. now owns 2,148,101 shares of the software maker’s stock valued at $335,813,000 after buying an additional 893,067 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Five9 by 205.4% in the 1st quarter. Fred Alger Management LLC now owns 838,972 shares of the software maker’s stock valued at $131,156,000 after buying an additional 564,303 shares in the last quarter. BlackRock Inc. boosted its stake in Five9 by 12.4% during the 1st quarter. BlackRock Inc. now owns 4,066,902 shares of the software maker’s stock worth $635,776,000 after purchasing an additional 449,754 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Five9 by 318.9% during the 2nd quarter. Franklin Resources Inc. now owns 438,895 shares of the software maker’s stock worth $80,488,000 after purchasing an additional 334,124 shares during the period. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

About Five9

Five9, Inc engages in the provision of cloud software for contact centers. It specializes in omnichannel routing, analytics, workforce organization and reporting. The company was founded in December 2001 and is headquartered in San Ramon, CA.

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