Five9 (NASDAQ:FIVN) Price Target Lowered to $75.00 at Canaccord Genuity Group

Five9 (NASDAQ:FIVN) had its price objective decreased by Canaccord Genuity Group from $90.00 to $75.00 in a research note published on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the software maker’s stock.

A number of other research firms also recently issued reports on FIVN. Wells Fargo & Company lowered their target price on Five9 from $100.00 to $90.00 and set an overweight rating on the stock in a research report on Thursday, February 22nd. KeyCorp reduced their price target on Five9 from $93.00 to $86.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Barclays reduced their price target on Five9 from $105.00 to $95.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Needham & Company LLC reiterated a buy rating and set a $90.00 price target on shares of Five9 in a report on Thursday, February 22nd. Finally, Morgan Stanley reduced their price target on Five9 from $80.00 to $70.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $86.13.

Five9 Stock Performance

FIVN opened at $58.25 on Monday. The business’s 50-day moving average price is $62.17 and its two-hundred day moving average price is $68.81. Five9 has a 1 year low of $51.01 and a 1 year high of $92.40. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -51.55 and a beta of 0.83. The company has a debt-to-equity ratio of 1.38, a current ratio of 5.53 and a quick ratio of 5.53.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts expect that Five9 will post -0.42 EPS for the current fiscal year.

Insider Activity at Five9

In related news, COO Andy Dignan sold 7,340 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 129,559 shares in the company, valued at $7,421,139.52. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FIVN. Sylebra Capital LLC acquired a new position in Five9 during the third quarter valued at approximately $129,467,000. Norges Bank acquired a new position in Five9 during the fourth quarter valued at approximately $79,035,000. Assenagon Asset Management S.A. raised its position in Five9 by 84.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock valued at $65,931,000 after purchasing an additional 383,002 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Five9 by 123.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 648,441 shares of the software maker’s stock valued at $51,026,000 after acquiring an additional 358,887 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Five9 by 162.6% in the 3rd quarter. UBS Group AG now owns 533,914 shares of the software maker’s stock valued at $34,331,000 after acquiring an additional 330,567 shares during the last quarter. 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 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.