Morgan Stanley Trims Five9 (NASDAQ:FIVN) Target Price to $37.00

Five9 (NASDAQ:FIVN) had its target price dropped by equities researchers at Morgan Stanley from $45.00 to $37.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective would indicate a potential upside of 23.87% from the company’s previous close.

FIVN has been the subject of a number of other reports. Bank of America upgraded Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, August 5th. Truist Financial restated a “buy” rating and issued a $65.00 price objective on shares of Five9 in a report on Tuesday, August 27th. Rosenblatt Securities reduced their target price on Five9 from $80.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 9th. Baird R W downgraded Five9 from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, BTIG Research reduced their price objective on Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.59.

Five9 Stock Down 1.8 %

FIVN opened at $29.87 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -35.14 and a beta of 0.85. The business has a 50-day moving average of $30.41 and a two-hundred day moving average of $42.64. Five9 has a 12 month low of $26.60 and a 12 month high of $92.40.

Five9 (NASDAQ:FIVN) last released its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.14. Five9 had a negative return on equity of 6.59% and a negative net margin of 5.44%. The firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $244.54 million. On average, research analysts expect that Five9 will post -0.09 earnings per share for the current year.

Insider Transactions at Five9

In related news, CFO Barry Zwarenstein sold 4,408 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total transaction of $118,883.76. Following the sale, the chief financial officer now owns 101,732 shares of the company’s stock, valued at $2,743,712.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.97, for a total value of $118,883.76. Following the sale, the chief financial officer now owns 101,732 shares of the company’s stock, valued at approximately $2,743,712.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Burkland sold 12,595 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $30.27, for a total value of $381,250.65. Following the sale, the chief executive officer now directly owns 253,488 shares in the company, valued at approximately $7,673,081.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,130 shares of company stock worth $1,212,594. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Five9 by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,437,575 shares of the software maker’s stock worth $461,948,000 after buying an additional 150,786 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Five9 by 1.9% in the 1st quarter. Wasatch Advisors LP now owns 3,459,581 shares of the software maker’s stock worth $214,875,000 after purchasing an additional 63,200 shares during the period. Sylebra Capital LLC raised its holdings in shares of Five9 by 28.4% in the 2nd quarter. Sylebra Capital LLC now owns 3,013,789 shares of the software maker’s stock worth $132,908,000 after purchasing an additional 666,681 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Five9 by 38.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,457,086 shares of the software maker’s stock worth $64,257,000 after purchasing an additional 406,188 shares during the period. Finally, Van Berkom & Associates Inc. raised its holdings in shares of Five9 by 52.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,299,483 shares of the software maker’s stock worth $57,307,000 after purchasing an additional 446,151 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, 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.