Five9 (NASDAQ:FIVN) Given New $70.00 Price Target at Morgan Stanley

Five9 (NASDAQ:FIVN) had its price objective cut by Morgan Stanley from $80.00 to $70.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

FIVN has been the topic of several other reports. Wells Fargo & Company reduced their target price on Five9 from $100.00 to $90.00 and set an overweight rating on the stock in a research report on Thursday, February 22nd. Piper Sandler upped their price objective on shares of Five9 from $84.00 to $86.00 and gave the company an overweight rating in a report on Friday, January 12th. KeyCorp lowered their target price on shares of Five9 from $93.00 to $86.00 and set an overweight rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada initiated coverage on shares of Five9 in a research note on Friday, March 15th. They set an outperform rating and a $80.00 price target on the stock. Finally, Barclays decreased their price target on shares of Five9 from $105.00 to $95.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $87.13.

Five9 Stock Up 0.2 %

Shares of Five9 stock opened at $56.88 on Wednesday. Five9 has a 52-week low of $51.01 and a 52-week high of $92.40. The firm’s 50 day moving average price is $63.37 and its 200-day moving average price is $68.87. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38. The company has a market cap of $4.20 billion, a P/E ratio of -50.34 and a beta of 0.83.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Wednesday, February 21st. The software maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.14. The business had revenue of $239.06 million for the quarter, compared to analyst estimates of $237.64 million. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. On average, sell-side analysts predict that Five9 will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling at Five9

In other news, COO Andy Dignan sold 7,340 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.28, for a total value of $420,435.20. Following the sale, the chief operating officer now owns 129,559 shares in the company, valued at $7,421,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Five9 by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,286,789 shares of the software maker’s stock worth $573,397,000 after acquiring an additional 50,540 shares in the last quarter. Wellington Management Group LLP grew its holdings in Five9 by 22.9% in the first quarter. Wellington Management Group LLP now owns 3,775,202 shares of the software maker’s stock valued at $416,783,000 after purchasing an additional 703,002 shares during the period. Sylebra Capital Ltd grew its holdings in Five9 by 3.3% in the first quarter. Sylebra Capital Ltd now owns 2,576,950 shares of the software maker’s stock valued at $186,288,000 after purchasing an additional 81,652 shares during the period. Alliancebernstein L.P. increased its position in shares of Five9 by 13.9% in the second quarter. Alliancebernstein L.P. now owns 2,501,692 shares of the software maker’s stock valued at $206,265,000 after buying an additional 306,251 shares in the last quarter. Finally, Sylebra Capital LLC raised its stake in shares of Five9 by 14.8% during the 4th quarter. Sylebra Capital LLC now owns 2,312,427 shares of the software maker’s stock worth $181,965,000 after buying an additional 298,939 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Five9 Company Profile

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.