Five9 (NASDAQ:FIVN) Price Target Raised to $46.00 at Morgan Stanley

Five9 (NASDAQ:FIVN) had its price objective lifted by analysts at Morgan Stanley from $40.00 to $46.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective would suggest a potential upside of 10.90% from the company’s previous close.

Several other analysts also recently weighed in on FIVN. Piper Sandler lifted their target price on Five9 from $35.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. DA Davidson lifted their price objective on shares of Five9 from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Robert W. Baird increased their target price on shares of Five9 from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. 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 research note on Friday, November 8th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $65.00 price target on shares of Five9 in a research note on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.18.

Five9 Stock Performance

FIVN opened at $41.48 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $36.59 and its 200-day moving average is $36.72. The stock has a market cap of $3.12 billion, a PE ratio of -82.96, a price-to-earnings-growth ratio of 28.88 and a beta of 0.92. Five9 has a twelve month low of $26.60 and a twelve month high of $81.72.

Insider Transactions at Five9

In related news, CEO Michael Burkland sold 12,594 shares of Five9 stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.40, for a total value of $521,391.60. Following the transaction, the chief executive officer now owns 240,894 shares of the company’s stock, valued at approximately $9,973,011.60. This trade represents a 4.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Panos Kozanian sold 7,619 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $42.09, for a total transaction of $320,683.71. Following the sale, the executive vice president now directly owns 69,009 shares of the company’s stock, valued at $2,904,588.81. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,004 shares of company stock valued at $1,209,279 over the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five9

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Five9 by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 86,000 shares of the software maker’s stock valued at $3,793,000 after purchasing an additional 673 shares during the period. Signaturefd LLC grew its holdings in shares of Five9 by 1,892.3% during the third quarter. Signaturefd LLC now owns 1,036 shares of the software maker’s stock valued at $30,000 after buying an additional 984 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Five9 during the second quarter valued at $57,000. Arizona State Retirement System lifted its stake in Five9 by 8.9% in the 2nd quarter. Arizona State Retirement System now owns 20,673 shares of the software maker’s stock worth $912,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Five9 by 13.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,069 shares of the software maker’s stock worth $548,000 after acquiring an additional 2,254 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.