Five9 (NASDAQ:FIVN) Reaches New 52-Week Low on Analyst Downgrade

Five9, Inc. (NASDAQ:FIVN) shares reached a new 52-week low during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $31.00 to $26.00. Piper Sandler currently has an overweight rating on the stock. Five9 traded as low as $20.45 and last traded at $20.1320, with a volume of 427944 shares changing hands. The stock had previously closed at $21.54.

Several other equities analysts also recently commented on FIVN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $36.00 target price on shares of Five9 in a research report on Friday, August 1st. Zacks Research raised shares of Five9 from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen upgraded shares of Five9 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Morgan Stanley set a $30.00 target price on shares of Five9 in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Five9 in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Insider Activity at Five9

In other news, CAO Leena Mansharamani sold 2,969 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were 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 approximately $1,073,343.70. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tiffany N. Meriweather sold 7,861 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.72, for a total transaction of $202,184.92. Following the transaction, the insider directly owned 218,978 shares of the company’s stock, valued at $5,632,114.16. The trade was a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,781 shares of company stock worth $1,562,457 in the last quarter. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Five9

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new position in shares of Five9 during the 2nd quarter worth approximately $32,000. Global Retirement Partners LLC lifted its holdings in shares of Five9 by 81.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,228 shares of the software maker’s stock valued at $30,000 after purchasing an additional 552 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Five9 during the 3rd quarter worth $45,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Five9 by 419.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,243 shares of the software maker’s stock valued at $61,000 after buying an additional 1,811 shares in the last quarter. Finally, Quarry LP purchased a new stake in Five9 in the first quarter valued at about $74,000. Institutional investors own 96.64% of the company’s stock.

Five9 Stock Performance

The company has a market capitalization of $1.53 billion, a PE ratio of 220.90, a PEG ratio of 2.20 and a beta of 1.27. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.04. The business has a 50 day simple moving average of $24.25 and a 200 day simple moving average of $25.82.

Five9 (NASDAQ:FIVN) last announced its quarterly earnings data on Friday, August 22nd. The software maker reported $0.76 earnings per share (EPS) for the quarter. The firm had revenue of $283.27 million during the quarter. Five9 had a return on equity of 8.91% and a net margin of 0.80%. Equities research analysts predict that Five9, Inc. will post 0.28 EPS for the current fiscal year.

Five9 Company Profile

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.