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

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

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

Five9 Stock Performance

Shares of FIVN stock opened at $57.09 on Wednesday. The company has a market capitalization of $4.22 billion, a P/E 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 business’s 50 day moving average is $62.57 and its two-hundred day moving average is $68.74. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 1.38.

Five9 (NASDAQ:FIVN) last announced 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%. Analysts expect that Five9 will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Five9 news, COO Andy Dignan sold 7,340 shares of Five9 stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Five9

Institutional investors have recently made changes to their positions in the stock. Sylebra Capital LLC purchased a new position in shares of Five9 during the 3rd quarter worth approximately $129,467,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Five9 by 402.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,848,061 shares of the software maker’s stock worth $125,410,000 after buying an additional 1,479,988 shares during the period. Norges Bank acquired a new stake in shares of Five9 in the fourth quarter valued at $79,035,000. Wellington Management Group LLP raised its holdings in shares of Five9 by 22.9% in the 1st quarter. Wellington Management Group LLP now owns 3,775,202 shares of the software maker’s stock valued at $416,783,000 after buying an additional 703,002 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Five9 by 166.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 817,582 shares of the software maker’s stock valued at $67,410,000 after buying an additional 510,688 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.