Five9 (NASDAQ:FIVN) PT Lowered to $70.00

Five9 (NASDAQ:FIVN) had its price target decreased by analysts at Morgan Stanley from $80.00 to $70.00 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 indicates a potential upside of 21.91% from the company’s current price.

Other equities research analysts have also issued reports about the stock. KeyCorp lowered their target price on shares of Five9 from $93.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Barclays reduced their price target on shares of Five9 from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Piper Sandler upped their price target on shares of Five9 from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Wells Fargo & Company reduced their price target on shares of Five9 from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada assumed coverage on shares of Five9 in a research report on Friday, March 15th. They set an “outperform” rating and a $80.00 price target for the company. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.13.

Five9 Price Performance

NASDAQ:FIVN opened at $57.42 on Wednesday. The firm’s fifty day moving average is $63.01 and its two-hundred day moving average is $68.79. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.53 and a current ratio of 5.53. Five9 has a one year low of $51.01 and a one year high of $92.40. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of -50.81 and a beta of 0.83.

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, topping the consensus estimate of ($0.21) by $0.14. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The business had revenue of $239.06 million for the quarter, compared to analyst estimates of $237.64 million. Research analysts expect that Five9 will post -0.42 EPS for the current year.

Insider Transactions at Five9

In other news, COO Andy Dignan sold 7,340 shares of the firm’s 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 completion of the sale, the chief operating officer now owns 129,559 shares in the company, valued at approximately $7,421,139.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI boosted its position in shares of Five9 by 46.8% during the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock worth $36,000 after purchasing an additional 144 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Five9 by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 31,227 shares of the software maker’s stock worth $2,008,000 after purchasing an additional 160 shares during the period. Arizona State Retirement System boosted its position in shares of Five9 by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 20,266 shares of the software maker’s stock worth $1,303,000 after purchasing an additional 172 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Five9 by 4.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,347 shares of the software maker’s stock worth $421,000 after purchasing an additional 215 shares during the period. Finally, US Bancorp DE boosted its position in shares of Five9 by 1.4% during the 4th quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock worth $1,340,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

About Five9

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.