Five9 (NASDAQ:FIVN) Given New $46.00 Price Target at Morgan Stanley

Five9 (NASDAQ:FIVN) had its price target raised by stock analysts at Morgan Stanley from $40.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective suggests a potential upside of 7.65% from the stock’s previous close.

FIVN has been the topic of several other reports. Rosenblatt Securities lifted their price objective on Five9 from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company cut shares of Five9 from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $55.00 to $40.00 in a report on Tuesday, November 12th. Piper Sandler raised their price objective on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC upped their target price on shares of Five9 from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Monday. Finally, Truist Financial reaffirmed a “buy” rating and set a $65.00 price target on shares of Five9 in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.18.

Five9 Stock Up 0.3 %

Shares of Five9 stock opened at $42.73 on Wednesday. Five9 has a 1-year low of $26.60 and a 1-year high of $82.61. The company has a market capitalization of $3.21 billion, a PE ratio of -85.46, a P/E/G ratio of 28.88 and a beta of 0.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The business has a 50-day moving average of $36.10 and a 200-day moving average of $36.66.

Insider Activity at Five9

In other Five9 news, CAO Leena Mansharamani sold 1,346 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total value of $55,630.18. Following the completion of the sale, the chief accounting officer now directly owns 35,526 shares of the company’s stock, valued at approximately $1,468,289.58. This represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andy Dignan sold 4,109 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total transaction of $171,961.65. Following the transaction, the chief operating officer now owns 115,818 shares of the company’s stock, valued at approximately $4,846,983.30. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,004 shares of company stock worth $1,209,279 in the last three months. 1.80% of the stock is owned by company insiders.

Institutional Trading of Five9

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIVN. 272 Capital LP lifted its position in shares of Five9 by 3.3% during the 3rd quarter. 272 Capital LP now owns 297,880 shares of the software maker’s stock valued at $8,558,000 after acquiring an additional 9,389 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Five9 during the third quarter worth $4,597,000. Synovus Financial Corp lifted its holdings in shares of Five9 by 34.2% during the third quarter. Synovus Financial Corp now owns 13,272 shares of the software maker’s stock valued at $381,000 after purchasing an additional 3,385 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Five9 in the 3rd quarter worth about $4,154,000. Finally, Sanctuary Advisors LLC acquired a new stake in Five9 during the 3rd quarter worth about $145,000. 96.64% of the stock is 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, 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.