Rosenblatt Securities Trims Five9 (NASDAQ:FIVN) Target Price to $80.00

Five9 (NASDAQ:FIVN - Free Report) had its price target lowered by Rosenblatt Securities from $90.00 to $80.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker's stock.

Several other brokerages also recently weighed in on FIVN. Barclays decreased their target price on shares of Five9 from $105.00 to $95.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Needham & Company LLC reiterated a buy rating and set a $90.00 price objective on shares of Five9 in a research note on Thursday, February 22nd. Canaccord Genuity Group reduced their price objective on shares of Five9 from $90.00 to $75.00 and set a buy rating on the stock in a research note on Monday. Piper Sandler increased their price objective on shares of Five9 from $84.00 to $86.00 and gave the company an overweight rating in a research note on Friday, January 12th. Finally, Royal Bank of Canada initiated coverage on shares of Five9 in a research note on Friday, March 15th. They set an outperform rating and a $80.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Five9 presently has an average rating of Moderate Buy and a consensus target price of $85.47.

Five9 Trading Down 1.6 %

Shares of Five9 stock traded down $0.94 during trading hours on Friday, hitting $58.98. The company's stock had a trading volume of 1,043,800 shares, compared to its average volume of 1,283,823. Five9 has a 1-year low of $51.01 and a 1-year high of $92.40. The business has a fifty day moving average of $61.27 and a 200 day moving average of $68.66. The company has a market capitalization of $4.36 billion, a PE ratio of -53.03 and a beta of 0.83. 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 - Get Free Report) last announced its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.14. The business had revenue of $239.06 million during the quarter, compared to the consensus estimate of $237.64 million. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. As a group, equities analysts forecast that Five9 will post -0.42 EPS for the current year.

Insider Buying and Selling at Five9

In other news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total value of $420,435.20. Following the transaction, the chief operating officer now 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 accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Five9

Hedge funds have recently made changes to their positions in the business. Arcadia Investment Management Corp MI boosted its holdings in shares of Five9 by 46.8% in the fourth quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker's stock worth $36,000 after buying an additional 144 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of Five9 by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 31,227 shares of the software maker's stock worth $2,008,000 after buying an additional 160 shares during the period. Arizona State Retirement System boosted its holdings in shares of Five9 by 0.9% in the third quarter. Arizona State Retirement System now owns 20,266 shares of the software maker's stock worth $1,303,000 after buying an additional 172 shares during the period. US Bancorp DE boosted its holdings in shares of Five9 by 1.4% in the fourth quarter. US Bancorp DE now owns 17,032 shares of the software maker's stock worth $1,340,000 after buying an additional 228 shares during the period. Finally, Schechter Investment Advisors LLC boosted its holdings in shares of Five9 by 4.5% in the third quarter. Schechter Investment Advisors LLC now owns 6,319 shares of the software maker's stock worth $406,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 96.64% of the company's stock.

Five9 Company Profile

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.