Rosenblatt Securities Has Lowered Expectations for Five9 (NASDAQ:FIVN) Stock Price

Five9 (NASDAQ:FIVN) had its target price decreased by equities researchers at Rosenblatt Securities from $58.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ target price indicates a potential upside of 43.66% from the company’s current price.

A number of other research firms have also issued reports on FIVN. William Blair reaffirmed an “outperform” rating on shares of Five9 in a report on Thursday, March 13th. Morgan Stanley lowered their price objective on shares of Five9 from $48.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Barclays upped their target price on shares of Five9 from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Wells Fargo & Company decreased their price target on shares of Five9 from $45.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Five9 in a research report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.47.

Five9 Stock Up 1.7 %

FIVN opened at $25.06 on Thursday. The firm has a market cap of $1.90 billion, a P/E ratio of -125.29, a price-to-earnings-growth ratio of 9.41 and a beta of 1.29. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The business has a 50 day moving average price of $29.06 and a 200 day moving average price of $35.00. Five9 has a twelve month low of $21.04 and a twelve month high of $60.76.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The firm had revenue of $278.66 million for the quarter, compared to the consensus estimate of $267.70 million. Research analysts forecast that Five9 will post 0.28 EPS for the current year.

Insider Activity at Five9

In related news, CFO Barry Zwarenstein sold 2,468 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.23, for a total transaction of $82,011.64. Following the sale, the chief financial officer now directly owns 92,583 shares in the company, valued at $3,076,533.09. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Burkland sold 12,595 shares of Five9 stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $35.63, for a total value of $448,759.85. Following the completion of the transaction, the chief executive officer now owns 404,056 shares of the company’s stock, valued at approximately $14,396,515.28. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,574 shares of company stock valued at $1,004,346 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Five9

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gagnon Securities LLC lifted its position in Five9 by 10.4% during the 4th quarter. Gagnon Securities LLC now owns 366,096 shares of the software maker’s stock worth $14,878,000 after buying an additional 34,597 shares in the last quarter. Barclays PLC raised its stake in shares of Five9 by 215.8% in the third quarter. Barclays PLC now owns 242,187 shares of the software maker’s stock worth $6,956,000 after acquiring an additional 165,487 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Five9 in the fourth quarter worth about $268,000. Janney Montgomery Scott LLC lifted its position in shares of Five9 by 25.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,372 shares of the software maker’s stock worth $1,438,000 after purchasing an additional 7,140 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Five9 by 7,305.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,333 shares of the software maker’s stock valued at $54,000 after purchasing an additional 1,315 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, 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.