Morgan Stanley Issues Pessimistic Forecast for Five9 (NASDAQ:FIVN) Stock Price

Five9 (NASDAQ:FIVN) had its target price decreased by analysts at Morgan Stanley from $48.00 to $28.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective suggests a potential upside of 25.45% from the company’s previous close.

Other analysts have also issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of Five9 in a report on Friday, April 4th. Piper Sandler upped their target price on Five9 from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. William Blair restated an “outperform” rating on shares of Five9 in a research note on Thursday, March 13th. Barclays upped their price objective on shares of Five9 from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Five9 in a research report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.94.

Five9 Stock Performance

FIVN stock opened at $22.32 on Wednesday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -111.59, a PEG ratio of 9.41 and a beta of 1.29. Five9 has a twelve month low of $21.04 and a twelve month high of $60.81. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $31.20 and its two-hundred day simple moving average is $35.22.

Five9 (NASDAQ:FIVN) last posted its quarterly earnings results on Thursday, February 20th. The software maker reported $0.26 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.44). The company had revenue of $278.66 million during the quarter, compared to analysts’ expectations of $267.70 million. Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. Analysts predict that Five9 will post 0.28 earnings per share for the current year.

Insider Activity at Five9

In other news, EVP Panos Kozanian sold 7,619 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.40, for a total transaction of $254,474.60. Following the completion of the sale, the executive vice president now owns 126,359 shares of the company’s stock, valued at $4,220,390.60. The trade was a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Leena Mansharamani sold 1,135 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $30.20, for a total value of $34,277.00. Following the sale, the chief accounting officer now owns 47,165 shares of the company’s stock, valued at approximately $1,424,383. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,574 shares of company stock worth $1,004,346. 1.80% of the stock is owned by company insiders.

Institutional Trading of Five9

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC boosted its holdings in Five9 by 59.4% in the 4th quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker’s stock valued at $152,228,000 after purchasing an additional 1,396,496 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Five9 by 353.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker’s stock valued at $97,356,000 after buying an additional 1,867,137 shares during the period. Norges Bank acquired a new position in Five9 in the fourth quarter valued at approximately $81,280,000. Wellington Management Group LLP grew its position in Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker’s stock worth $72,496,000 after acquiring an additional 601,348 shares during the period. Finally, Geode Capital Management LLC increased its stake in Five9 by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker’s stock worth $53,558,000 after acquiring an additional 105,265 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.