Five9 (NASDAQ:FIVN) Price Target Cut to $80.00 by Analysts at Rosenblatt Securities

Five9 (NASDAQ:FIVN) had its target price decreased by Rosenblatt Securities from $90.00 to $80.00 in a research report report published on Friday morning, Benzinga reports. Rosenblatt Securities currently has a buy rating on the software maker’s stock.

Several other equities research analysts also recently weighed in on FIVN. Barclays cut their price objective on Five9 from $105.00 to $95.00 and set an overweight rating on the stock in a report on Thursday, February 22nd. Canaccord Genuity Group cut their price objective on Five9 from $90.00 to $75.00 and set a buy rating on the stock in a report on Monday, April 22nd. Needham & Company LLC reissued a buy rating and set a $90.00 price objective on shares of Five9 in a report on Thursday, February 22nd. Piper Sandler raised their price objective on Five9 from $84.00 to $86.00 and gave the company an overweight rating in a report on Friday, January 12th. Finally, Royal Bank of Canada began coverage on Five9 in a report on Friday, March 15th. They set an outperform rating and a $80.00 price objective on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $85.47.

Five9 Trading Down 1.6 %

Shares of FIVN stock opened at $58.98 on Friday. The stock’s fifty day moving average price is $61.00 and its two-hundred day moving average price is $68.62. Five9 has a fifty-two week low of $51.01 and a fifty-two week high of $92.40. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38.

Five9 (NASDAQ:FIVN) last issued its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.14. The firm had revenue of $239.06 million for the quarter, compared to the consensus estimate of $237.64 million. Five9 had a negative return on equity of 12.51% and a negative net margin of 8.98%. On average, equities analysts forecast that Five9 will post -0.42 earnings per share for the current year.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Five9

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Five9 by 84.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after buying an additional 383,002 shares in the last quarter. Vanguard Group Inc. increased its position in Five9 by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock valued at $465,291,000 after buying an additional 227,183 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Five9 by 966.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock valued at $22,411,000 after buying an additional 315,867 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Five9 by 11.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock valued at $52,701,000 after buying an additional 81,744 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Five9 by 7.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock valued at $30,078,000 after buying an additional 25,075 shares in the last quarter. 96.64% of the stock is owned by 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.