Morgan Stanley Trims Five9 (NASDAQ:FIVN) Target Price to $50.00

Five9 (NASDAQ:FIVNFree Report) had its target price cut by Morgan Stanley from $70.00 to $50.00 in a research note released on Friday, Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

FIVN has been the topic of several other reports. 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 report on Thursday, February 22nd. Rosenblatt Securities reissued a buy rating and set a $80.00 price objective on shares of Five9 in a report on Friday, May 3rd. Needham & Company LLC restated a buy rating and set a $90.00 price target on shares of Five9 in a research report on Thursday, June 6th. Wells Fargo & Company dropped their target price on shares of Five9 from $85.00 to $80.00 and set an overweight rating for the company in a research note on Monday, June 10th. Finally, Barclays cut their price target on Five9 from $105.00 to $95.00 and set an overweight rating on the stock in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $82.71.

Read Our Latest Research Report on FIVN

Five9 Stock Performance

Shares of NASDAQ FIVN opened at $41.74 on Friday. The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 2.41. Five9 has a 52-week low of $40.82 and a 52-week high of $92.40. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -49.11 and a beta of 0.81. The stock’s fifty day simple moving average is $52.99 and its 200 day simple moving average is $65.10.

Five9 (NASDAQ:FIVNGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.13. The firm had revenue of $247.01 million for the quarter, compared to analysts’ expectations of $239.72 million. Five9 had a negative net margin of 6.56% and a negative return on equity of 9.09%. As a group, sell-side analysts forecast that Five9 will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Five9

In related news, EVP Panos Kozanian sold 6,893 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $46.30, for a total value of $319,145.90. Following the completion of the transaction, the executive vice president now owns 94,477 shares of the company’s stock, valued at $4,374,285.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Leena Mansharamani sold 1,542 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.27, for a total value of $71,348.34. Following the transaction, the chief accounting officer now owns 38,267 shares in the company, valued at approximately $1,770,614.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Panos Kozanian sold 6,893 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.30, for a total value of $319,145.90. Following the transaction, the executive vice president now owns 94,477 shares in the company, valued at approximately $4,374,285.10. The disclosure for this sale can be found here. Insiders sold 44,541 shares of company stock valued at $2,024,537 over the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

Several institutional investors and hedge funds have recently modified their holdings of FIVN. Arcadia Investment Management Corp MI raised its holdings in Five9 by 46.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 452 shares of the software maker’s stock valued at $36,000 after acquiring an additional 144 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Five9 by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 31,227 shares of the software maker’s stock valued at $2,008,000 after acquiring an additional 160 shares during the last quarter. US Bancorp DE lifted its stake in shares of Five9 by 1.4% in the fourth quarter. US Bancorp DE now owns 17,032 shares of the software maker’s stock worth $1,340,000 after acquiring an additional 228 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in Five9 by 139.5% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker’s stock worth $38,000 after buying an additional 279 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in Five9 by 136.0% in the fourth quarter. Headlands Technologies LLC now owns 531 shares of the software maker’s stock worth $42,000 after purchasing an additional 306 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

About Five9

(Get Free Report)

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.

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Analyst Recommendations for Five9 (NASDAQ:FIVN)

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