Five9 (NASDAQ:FIVN) PT Lowered to $37.00

Five9 (NASDAQ:FIVN) had its price objective reduced by equities research analysts at Morgan Stanley from $45.00 to $37.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently 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 stock’s current price.

A number of other brokerages have also weighed in on FIVN. Bank of America raised shares of Five9 from an “underperform” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Monday, August 5th. BTIG Research reduced their price objective on shares of Five9 from $100.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Robert W. Baird cut shares of Five9 from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $90.00 to $40.00 in a research report on Friday, August 9th. Northland Securities reduced their target price on shares of Five9 from $95.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $47.00 target price on shares of Five9 in a research report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Five9 presently has an average rating of “Moderate Buy” and a consensus price target of $62.59.

Five9 Stock Down 1.8 %

Five9 stock opened at $29.87 on Tuesday. The company’s 50 day simple moving average is $30.41 and its 200 day simple moving average is $42.64. Five9 has a fifty-two week low of $26.60 and a fifty-two week high of $92.40. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -35.14 and a beta of 0.85. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.15 and a quick ratio of 2.15.

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

Insiders Place Their Bets

In related news, CFO Barry Zwarenstein sold 4,408 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the completion of the transaction, the chief financial officer now owns 101,732 shares in the company, valued at approximately $2,743,712.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Five9 news, CFO Barry Zwarenstein sold 4,408 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.97, for a total transaction of $118,883.76. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Burkland sold 12,595 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $30.27, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,130 shares of company stock worth $1,212,594 over the last three months. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Five9

Several large investors have recently made changes to their positions in FIVN. Quent Capital LLC grew its holdings in shares of Five9 by 8.7% in the second quarter. Quent Capital LLC now owns 4,379 shares of the software maker’s stock valued at $193,000 after purchasing an additional 352 shares during the period. BOKF NA increased its stake in shares of Five9 by 1.7% during the first quarter. BOKF NA now owns 39,846 shares of the software maker’s stock worth $2,445,000 after buying an additional 657 shares during the period. Rhumbline Advisers increased its stake in shares of Five9 by 0.8% during the second quarter. Rhumbline Advisers now owns 86,000 shares of the software maker’s stock worth $3,793,000 after buying an additional 673 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Five9 by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 76,495 shares of the software maker’s stock valued at $4,751,000 after purchasing an additional 745 shares during the last quarter. Finally, Mirador Capital Partners LP increased its stake in Five9 by 6.2% in the first quarter. Mirador Capital Partners LP now owns 17,564 shares of the software maker’s stock valued at $1,091,000 after purchasing an additional 1,031 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.