JPMorgan Chase & Co. Lowers Five9 (FIVN) to Neutral
JPMorgan Chase & Co. downgraded shares of Five9 (NASDAQ:FIVN) from an overweight rating to a neutral rating in a report issued on Thursday, Marketbeat Ratings reports.
A number of other equities research analysts have also recently commented on the stock. BidaskClub raised shares of Five9 from a hold rating to a buy rating in a report on Wednesday, November 28th. Roth Capital boosted their target price on shares of Five9 from $45.00 to $55.00 and gave the company a buy rating in a report on Wednesday, November 7th. Bank of America boosted their target price on shares of Five9 from $25.00 to $28.00 and gave the company an underperform rating in a report on Wednesday, November 7th. Dougherty & Co started coverage on shares of Five9 in a report on Tuesday, October 16th. They set a hold rating on the stock. Finally, Zacks Investment Research cut shares of Five9 from a buy rating to a hold rating in a report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $40.92.
NASDAQ:FIVN opened at $42.05 on Thursday. The company has a current ratio of 6.95, a quick ratio of 6.95 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $2.47 billion, a P/E ratio of 2,102.50, a P/E/G ratio of 108.52 and a beta of 0.60. Five9 has a 12 month low of $22.55 and a 12 month high of $49.50.
In other Five9 news, EVP Scott Welch sold 1,412 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $46.32, for a total transaction of $65,403.84. Following the sale, the executive vice president now owns 78,373 shares of the company’s stock, valued at approximately $3,630,237.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Barry Zwarenstein sold 12,913 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $42.35, for a total transaction of $546,865.55. The disclosure for this sale can be found here. Insiders have sold a total of 120,291 shares of company stock worth $4,906,721 in the last three months. Insiders own 5.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC purchased a new position in shares of Five9 during the 2nd quarter valued at $110,000. Great West Life Assurance Co. Can grew its position in shares of Five9 by 81.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 5,407 shares of the software maker’s stock valued at $187,000 after purchasing an additional 2,419 shares in the last quarter. Concentric Wealth Management LLC purchased a new position in shares of Five9 during the 3rd quarter valued at $208,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Five9 during the 2nd quarter valued at $214,000. Finally, Mirador Capital Partners LP purchased a new position in shares of Five9 during the 2nd quarter valued at $234,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.
Five9, Inc, together with its subsidiaries, provides cloud software for contact centers in the United States and internationally. It offers 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; and acts as a hub for omnichannel engagement between the clients and their customers, which enables them to manage the end-to-end customer experience in a single unified architecture.
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