Five9 (NASDAQ:FIVN) Given New $70.00 Price Target at Morgan Stanley

Five9 (NASDAQ:FIVN - Get Free Report) had its target price reduced by equities researchers at Morgan Stanley from $80.00 to $70.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the software maker's stock. Morgan Stanley's price objective would suggest a potential upside of 21.91% from the company's previous close.

Several other brokerages also recently weighed in on FIVN. Royal Bank of Canada began coverage on shares of Five9 in a research note on Friday, March 15th. They issued an "outperform" rating and a $80.00 target price for the company. Barclays cut their price objective on shares of Five9 from $105.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, February 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Five9 in a report on Thursday, February 22nd. KeyCorp dropped 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. Finally, Wells Fargo & Company dropped their target price on shares of Five9 from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.13.

Five9 Trading Up 0.9 %

Five9 stock traded up $0.54 during midday trading on Wednesday, reaching $57.42. The stock had a trading volume of 835,820 shares, compared to its average volume of 1,312,940. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of -50.81 and a beta of 0.83. The company has a fifty day moving average of $63.01 and a 200 day moving average of $68.79. Five9 has a 52-week low of $51.01 and a 52-week high of $92.40. The company has a quick ratio of 5.53, a current ratio of 5.53 and a debt-to-equity ratio of 1.38.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings data 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. Five9 had a negative net margin of 8.98% and a negative return on equity of 12.51%. The firm had revenue of $239.06 million for the quarter, compared to the consensus estimate of $237.64 million. On average, analysts anticipate that Five9 will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Five9

In other news, COO Andy Dignan sold 7,340 shares of the business'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 value of $420,435.20. Following the sale, the chief operating officer now directly owns 129,559 shares of the company's stock, valued at approximately $7,421,139.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Five9

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI increased its stake in 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 buying an additional 144 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Five9 by 139.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 479 shares of the software maker's stock valued at $38,000 after buying an additional 279 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Five9 in the 1st quarter valued at $41,000. Headlands Technologies LLC boosted its holdings in shares of Five9 by 136.0% in the 4th quarter. Headlands Technologies LLC now owns 531 shares of the software maker's stock valued at $42,000 after buying an additional 306 shares in the last quarter. Finally, Neo Ivy Capital Management boosted its stake in Five9 by 117.6% during the 2nd quarter. Neo Ivy Capital Management now owns 470 shares of the software maker's stock worth $42,000 after purchasing an additional 254 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

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.