Morgan Stanley Issues Positive Forecast for Five9 (NASDAQ:FIVN) Stock Price

Five9 (NASDAQ:FIVN) had its price objective raised by Morgan Stanley from $40.00 to $46.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the software maker’s stock.

A number of other brokerages have also recently commented on FIVN. Wells Fargo & Company cut shares of Five9 from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $55.00 to $40.00 in a research report on Tuesday, November 12th. Rosenblatt Securities upped their price objective on shares of Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 8th. DA Davidson raised their target price on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Truist Financial restated a “buy” rating and issued a $65.00 price target on shares of Five9 in a research report on Tuesday. Finally, Piper Sandler lifted their price objective on Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.18.

Five9 Price Performance

Shares of FIVN traded down $0.51 during trading hours on Wednesday, hitting $40.73. 211,807 shares of the stock were exchanged, compared to its average volume of 1,507,616. The stock’s 50-day moving average price is $36.36 and its two-hundred day moving average price is $36.69. Five9 has a 12-month low of $26.60 and a 12-month high of $81.72. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -81.46, a price-to-earnings-growth ratio of 28.88 and a beta of 0.92.

Insider Activity at Five9

In other Five9 news, COO Andy Dignan sold 4,109 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $41.85, for a total value of $171,961.65. Following the completion of the transaction, the chief operating officer now owns 115,818 shares of the company’s stock, valued at $4,846,983.30. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Leena Mansharamani sold 1,346 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $41.33, for a total value of $55,630.18. Following the completion of the sale, the chief accounting officer now owns 35,526 shares in the company, valued at approximately $1,468,289.58. The trade was a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,004 shares of company stock worth $1,209,279. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in shares of Five9 by 10.6% in the 2nd quarter. Raymond James & Associates now owns 96,034 shares of the software maker’s stock valued at $4,235,000 after buying an additional 9,167 shares in the last quarter. Summit Global Investments boosted its stake in Five9 by 68.5% in the second quarter. Summit Global Investments now owns 10,780 shares of the software maker’s stock valued at $475,000 after acquiring an additional 4,383 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Five9 by 14.8% during the second quarter. Conestoga Capital Advisors LLC now owns 166,238 shares of the software maker’s stock worth $7,331,000 after purchasing an additional 21,390 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Five9 by 16.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,815 shares of the software maker’s stock worth $742,000 after purchasing an additional 2,376 shares in the last quarter. Finally, Kopp Family Office LLC lifted its holdings in shares of Five9 by 48.2% in the 2nd quarter. Kopp Family Office LLC now owns 352,075 shares of the software maker’s stock valued at $15,527,000 after purchasing an additional 114,583 shares during the last quarter. 96.64% of the stock is 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.