Rosenblatt Securities Cuts Five9 (NASDAQ:FIVN) Price Target to $70.00

Five9 (NASDAQ:FIVN) had its price target reduced by Rosenblatt Securities from $80.00 to $70.00 in a research note released on Friday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the software maker’s stock.

Several other equities research analysts also recently commented on the company. Bank of America raised Five9 from an underperform rating to a buy rating and set a $63.00 target price on the stock in a report on Monday, August 5th. Needham & Company LLC reissued a buy rating and set a $90.00 price objective on shares of Five9 in a research report on Thursday, June 6th. Morgan Stanley decreased their target price on shares of Five9 from $70.00 to $50.00 and set an equal weight rating for the company in a report on Friday, June 14th. Wells Fargo & Company cut their price target on shares of Five9 from $80.00 to $65.00 and set an overweight rating on the stock in a report on Friday. Finally, BTIG Research lowered their price objective on Five9 from $100.00 to $45.00 and set a buy rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $65.82.

Five9 Price Performance

FIVN stock opened at $32.36 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 7.02 and a current ratio of 7.02. The firm has a 50 day moving average price of $42.66 and a 200-day moving average price of $54.95. Five9 has a 52-week low of $28.75 and a 52-week high of $92.40. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -38.07 and a beta of 0.82.

Insider Activity at Five9

In other Five9 news, CEO Michael Burkland sold 12,386 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $573,471.80. Following the completion of the sale, the chief executive officer now owns 266,083 shares in the company, valued at $12,319,642.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Michael Burkland sold 12,386 shares of Five9 stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total transaction of $573,471.80. Following the transaction, the chief executive officer now directly owns 266,083 shares of the company’s stock, valued at approximately $12,319,642.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Leena Mansharamani sold 1,542 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.27, for a total transaction of $71,348.34. Following the completion of the sale, the chief accounting officer now directly owns 38,267 shares of the company’s stock, valued at $1,770,614.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,385 shares of company stock worth $2,418,755. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FIVN. Arcadia Investment Management Corp MI lifted its position 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 valued at $36,000 after acquiring an additional 144 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Five9 by 139.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after purchasing an additional 279 shares during the period. Headlands Technologies LLC grew its holdings in Five9 by 136.0% during the 4th quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock valued at $42,000 after buying an additional 306 shares in the last quarter. Quent Capital LLC raised its position in shares of Five9 by 8.7% during the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after buying an additional 352 shares during the last quarter. Finally, Intrust Bank NA purchased a new position in shares of Five9 in the fourth quarter worth $202,000. Institutional investors 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.