Five9 (NASDAQ:FIVN) Given New $85.00 Price Target at Wells Fargo & Company

Five9 (NASDAQ:FIVN) had its target price trimmed by Wells Fargo & Company from $90.00 to $85.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other analysts also recently commented on the company. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price objective on shares of Five9 in a research note on Friday. Barclays dropped their price objective on Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Morgan Stanley dropped their price objective on Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Piper Sandler raised their price objective on Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research note on Friday, January 12th. Finally, KeyCorp dropped their price objective on Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $84.88.

Five9 Stock Performance

Shares of NASDAQ FIVN traded up $1.15 during trading hours on Friday, reaching $57.88. The stock had a trading volume of 3,913,144 shares, compared to its average volume of 1,140,257. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -68.09 and a beta of 0.85. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38. Five9 has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The firm has a 50-day moving average of $59.98 and a 200-day moving average of $68.46.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.14. The firm had revenue of $239.06 million during the quarter, compared to the consensus estimate of $237.64 million. Five9 had a negative return on equity of 9.03% and a negative net margin of 6.56%. Equities research analysts predict that Five9 will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Andy Dignan sold 7,340 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at approximately $7,421,139.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FIVN. Coronation Fund Managers Ltd. raised its position in Five9 by 13.9% in the first quarter. Coronation Fund Managers Ltd. now owns 179,638 shares of the software maker’s stock valued at $11,157,000 after purchasing an additional 21,959 shares during the period. RiverPark Advisors LLC raised its position in Five9 by 29.2% in the first quarter. RiverPark Advisors LLC now owns 28,162 shares of the software maker’s stock valued at $1,749,000 after purchasing an additional 6,371 shares during the period. Nordea Investment Management AB purchased a new position in Five9 in the first quarter valued at about $3,239,000. Mirae Asset Global Investments Co. Ltd. raised its position in Five9 by 12.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 429,007 shares of the software maker’s stock valued at $26,807,000 after purchasing an additional 46,770 shares during the period. Finally, Conestoga Capital Advisors LLC raised its position in Five9 by 5.3% in the first quarter. Conestoga Capital Advisors LLC now owns 144,848 shares of the software maker’s stock valued at $8,997,000 after purchasing an additional 7,235 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

About Five9

Five9, Inc, together with its subsidiaries, provides intelligent cloud software for contact centers in the United States 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.