Piper Sandler Cuts Five9 (NASDAQ:FIVN) Price Target to $26.00

Five9 (NASDAQ:FIVN) had its target price reduced by Piper Sandler from $31.00 to $26.00 in a research report released on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the software maker’s stock.

A number of other research firms have also commented on FIVN. Weiss Ratings reissued a “sell (d)” rating on shares of Five9 in a research report on Wednesday, October 8th. Zacks Research raised Five9 from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price target on shares of Five9 in a report on Friday, August 1st. DA Davidson reaffirmed a “neutral” rating and set a $28.00 target price on shares of Five9 in a research report on Friday, September 12th. Finally, Morgan Stanley set a $30.00 price target on shares of Five9 in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Five9 has an average rating of “Moderate Buy” and an average price target of $35.65.

Five9 Price Performance

NASDAQ FIVN opened at $19.84 on Friday. The stock has a market capitalization of $1.53 billion, a PE ratio of 220.47, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. Five9 has a 12-month low of $17.97 and a 12-month high of $49.90. The company has a 50 day moving average price of $24.11 and a two-hundred day moving average price of $25.85. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04.

Five9 (NASDAQ:FIVN) last posted its earnings results on Friday, August 22nd. The software maker reported $0.76 earnings per share for the quarter. The company had revenue of $283.27 million for the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%. As a group, equities analysts predict that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Five9

In other news, CEO Michael Burkland sold 18,425 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.72, for a total value of $473,891.00. Following the sale, the chief executive officer directly owned 367,562 shares in the company, valued at approximately $9,453,694.64. This represents a 4.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Leena Mansharamani sold 2,969 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.85, for a total value of $76,748.65. Following the transaction, the chief accounting officer owned 41,522 shares of the company’s stock, valued at $1,073,343.70. This trade represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 60,781 shares of company stock valued at $1,562,457. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Voss Capital LP grew its holdings in shares of Five9 by 211.4% during the second quarter. Voss Capital LP now owns 3,250,000 shares of the software maker’s stock worth $86,060,000 after purchasing an additional 2,206,173 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Five9 by 14.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,749,505 shares of the software maker’s stock worth $74,649,000 after acquiring an additional 353,939 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Five9 by 292.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,679,356 shares of the software maker’s stock worth $72,745,000 after acquiring an additional 1,996,628 shares during the last quarter. Van Berkom & Associates Inc. increased its position in Five9 by 14.2% in the 1st quarter. Van Berkom & Associates Inc. now owns 2,140,763 shares of the software maker’s stock valued at $58,122,000 after acquiring an additional 266,484 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in shares of Five9 by 6.5% in the first quarter. Armistice Capital LLC now owns 2,098,000 shares of the software maker’s stock worth $56,961,000 after acquiring an additional 127,793 shares during the last quarter. 96.64% of the stock is 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.