Morgan Stanley Lowers Five9 (NASDAQ:FIVN) Price Target to $28.00

Five9 (NASDAQ:FIVN - Get Free Report) had its price target reduced by research analysts at Morgan Stanley from $48.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the software maker's stock. Morgan Stanley's price target indicates a potential upside of 29.69% from the stock's current price.

Several other research firms have also recently weighed in on FIVN. Piper Sandler increased their price target on shares of Five9 from $46.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a "buy" rating and set a $52.00 target price on shares of Five9 in a report on Friday, April 4th. Truist Financial reaffirmed a "buy" rating and set a $65.00 price objective on shares of Five9 in a research report on Tuesday, December 17th. Royal Bank of Canada reissued an "outperform" rating and set a $65.00 target price on shares of Five9 in a research note on Wednesday, March 19th. Finally, Barclays boosted their price objective on Five9 from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.94.

Five9 Price Performance

NASDAQ FIVN traded down $0.73 during mid-day trading on Wednesday, hitting $21.59. The stock had a trading volume of 1,262,809 shares, compared to its average volume of 1,605,484. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -107.94, a PEG ratio of 9.41 and a beta of 1.29. The firm's 50 day moving average is $30.84 and its 200 day moving average is $35.28. Five9 has a twelve month low of $21.04 and a twelve month high of $60.81. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85.

Five9 (NASDAQ:FIVN - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The software maker reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.44). Five9 had a positive return on equity of 3.62% and a negative net margin of 1.23%. The company had revenue of $278.66 million for the quarter, compared to analyst estimates of $267.70 million. Equities research analysts forecast that Five9 will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Five9

In other news, EVP Panos Kozanian sold 7,619 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $33.40, for a total value of $254,474.60. Following the completion of the sale, the executive vice president now directly owns 126,359 shares of the company's stock, valued at $4,220,390.60. This trade represents a 5.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Burkland sold 12,595 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $35.63, for a total transaction of $448,759.85. Following the completion of the sale, the chief executive officer now owns 404,056 shares of the company's stock, valued at $14,396,515.28. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,574 shares of company stock worth $1,004,346 in the last quarter. Company insiders own 1.80% of the company's stock.

Institutional Trading of Five9

Several large investors have recently modified their holdings of the business. Sylebra Capital LLC lifted its position in shares of Five9 by 59.4% in the fourth quarter. Sylebra Capital LLC now owns 3,745,778 shares of the software maker's stock valued at $152,228,000 after acquiring an additional 1,396,496 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Five9 by 353.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,395,566 shares of the software maker's stock worth $97,356,000 after purchasing an additional 1,867,137 shares during the last quarter. Norges Bank purchased a new stake in shares of Five9 during the fourth quarter worth about $81,280,000. Wellington Management Group LLP raised its position in shares of Five9 by 50.9% in the fourth quarter. Wellington Management Group LLP now owns 1,783,870 shares of the software maker's stock valued at $72,496,000 after buying an additional 601,348 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Five9 by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,317,450 shares of the software maker's stock worth $53,558,000 after acquiring an additional 105,265 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.