Piper Sandler Lowers Five9 (NASDAQ:FIVN) Price Target to $31.00

Five9 (NASDAQ:FIVN - Get Free Report) had its price objective dropped by investment analysts at Piper Sandler from $36.00 to $31.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the software maker's stock. Piper Sandler's target price points to a potential upside of 19.88% from the stock's current price.

A number of other brokerages have also commented on FIVN. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 target price on shares of Five9 in a research report on Tuesday, May 13th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Five9 in a research report on Wednesday, April 2nd. Evercore ISI reduced their target price on shares of Five9 from $55.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Mizuho cut their price objective on shares of Five9 from $55.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company cut their price objective on shares of Five9 from $45.00 to $23.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $42.05.

Five9 Trading Down 1.3%

NASDAQ FIVN traded down $0.35 during trading on Monday, hitting $25.86. The stock had a trading volume of 1,478,152 shares, compared to its average volume of 1,781,750. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -287.30, a P/E/G ratio of 2.50 and a beta of 1.19. Five9 has a one year low of $21.04 and a one year high of $49.90. The stock has a 50 day simple moving average of $27.32 and a 200 day simple moving average of $31.08.

Five9 (NASDAQ:FIVN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. The business had revenue of $279.71 million during the quarter, compared to the consensus estimate of $272.26 million. Five9 had a negative net margin of 0.48% and a positive return on equity of 6.06%. The firm's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Sell-side analysts predict that Five9 will post 0.28 earnings per share for the current year.

Insider Activity at Five9

In other news, CFO Bryan M. Lee sold 1,798 shares of Five9 stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $28.28, for a total transaction of $50,847.44. Following the completion of the sale, the chief financial officer directly owned 126,468 shares in the company, valued at approximately $3,576,515.04. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Leena Mansharamani sold 2,938 shares of Five9 stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $27.83, for a total transaction of $81,764.54. Following the sale, the chief accounting officer owned 44,901 shares of the company's stock, valued at $1,249,594.83. The trade was a 6.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,866 shares of company stock worth $913,042 in the last 90 days. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Five9

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its holdings in Five9 by 3.2% in the second quarter. Harbor Capital Advisors Inc. now owns 18,685 shares of the software maker's stock valued at $495,000 after purchasing an additional 583 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Five9 in the first quarter valued at $1,029,000. Bayforest Capital Ltd purchased a new stake in Five9 in the first quarter valued at $127,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Five9 by 292.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker's stock valued at $72,745,000 after purchasing an additional 1,996,628 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new stake in Five9 in the first quarter valued at $224,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.