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

Five9 (NASDAQ:FIVN) had its target price hoisted by Morgan Stanley from $40.00 to $46.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

Several other equities analysts also recently weighed in on the company. Needham & Company LLC raised their price objective on Five9 from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company cut Five9 from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $55.00 to $40.00 in a research report on Tuesday, November 12th. Piper Sandler boosted their price objective on shares of Five9 from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Rosenblatt Securities raised their target price on shares of Five9 from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, DA Davidson lifted their target price on shares of Five9 from $40.00 to $45.00 and gave the stock a “neutral” 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. According to data from MarketBeat, Five9 currently has a consensus rating of “Moderate Buy” and an average target price of $58.18.

Five9 Price Performance

Five9 stock traded down $0.51 during mid-day trading on Wednesday, reaching $40.73. The company had a trading volume of 211,807 shares, compared to its average volume of 1,507,616. The stock’s 50-day simple moving average is $36.36 and its 200-day simple moving average is $36.69. Five9 has a 1 year low of $26.60 and a 1 year high of $81.72. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $3.06 billion, a P/E ratio of -81.46, a P/E/G ratio of 28.88 and a beta of 0.92.

Insider Buying and Selling at Five9

In other news, CEO Michael Burkland sold 12,594 shares of Five9 stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the completion of the sale, the chief executive officer now owns 240,894 shares of the company’s stock, valued at $9,973,011.60. The trade was a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Leena Mansharamani sold 1,346 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $41.33, for a total value of $55,630.18. Following the transaction, the chief accounting officer now owns 35,526 shares in the company, valued at $1,468,289.58. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,004 shares of company stock worth $1,209,279. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Five9

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

Five9 Company Profile

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.