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

Five9 (NASDAQ:FIVN) had its target price lowered by Morgan Stanley from $80.00 to $70.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the software maker’s stock.

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

Five9 Stock Down 0.6 %

Shares of NASDAQ FIVN opened at $57.09 on Wednesday. The firm’s 50-day moving average is $62.57 and its two-hundred day moving average is $68.74. The company has a market capitalization of $4.22 billion, a PE ratio of -50.52 and a beta of 0.83. Five9 has a 12-month low of $51.01 and a 12-month high of $92.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 5.53 and a quick ratio of 5.53.

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

Insider Transactions at Five9

In other Five9 news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.28, for a total transaction of $420,435.20. Following the transaction, the chief operating officer now directly owns 129,559 shares of the company’s stock, valued at $7,421,139.52. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in Five9 by 84.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 837,856 shares of the software maker’s stock worth $65,931,000 after acquiring an additional 383,002 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Five9 by 3.2% in the third quarter. Vanguard Group Inc. now owns 7,236,249 shares of the software maker’s stock valued at $465,291,000 after purchasing an additional 227,183 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Five9 by 966.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 348,536 shares of the software maker’s stock valued at $22,411,000 after purchasing an additional 315,867 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Five9 by 11.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 819,615 shares of the software maker’s stock worth $52,701,000 after buying an additional 81,744 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Five9 by 7.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 382,237 shares of the software maker’s stock worth $30,078,000 after buying an additional 25,075 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

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.