Five9 (NASDAQ:FIVN) Price Target Lowered to $70.00 at Morgan Stanley

Five9 (NASDAQ:FIVN) had its price target decreased by Morgan Stanley from $80.00 to $70.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective indicates a potential upside of 21.91% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Piper Sandler upped their target price on Five9 from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Royal Bank of Canada started coverage on Five9 in a report on Friday, March 15th. They set an “outperform” rating and a $80.00 target price for the company. Wells Fargo & Company reduced their target price on Five9 from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Five9 in a research note on Thursday, February 22nd. Finally, KeyCorp reduced their price objective on Five9 from $93.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.13.

Five9 Trading Up 0.9 %

NASDAQ:FIVN opened at $57.42 on Wednesday. Five9 has a 1 year low of $51.01 and a 1 year high of $92.40. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -50.81 and a beta of 0.83. The business has a fifty day moving average of $63.01 and a 200-day moving average of $68.79. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.53 and a current ratio of 5.53.

Five9 (NASDAQ:FIVN) last announced its earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.14. Five9 had a negative return on equity of 12.51% and a negative net margin of 8.98%. The business had revenue of $239.06 million during the quarter, compared to analysts’ expectations of $237.64 million. Equities analysts predict that Five9 will post -0.42 earnings per share for the current year.

Insider Activity

In other news, COO Andy Dignan sold 7,340 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total transaction of $420,435.20. Following the transaction, the chief operating officer now owns 129,559 shares of the company’s stock, valued at approximately $7,421,139.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC acquired a new stake in Five9 in the 1st quarter valued at approximately $41,000. Arcadia Investment Management Corp MI grew its holdings in Five9 by 46.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after buying an additional 144 shares during the last quarter. Neo Ivy Capital Management grew its holdings in Five9 by 117.6% in the 2nd quarter. Neo Ivy Capital Management now owns 470 shares of the software maker’s stock valued at $42,000 after buying an additional 254 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings 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 valued at $38,000 after buying an additional 279 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in Five9 by 136.0% in 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 during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

About Five9

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.