Five9 initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Five9 with an Outperform rating and $80 price target. The analyst cites Five9’s market leadership position in contact center as a service, “misunderstood” generative artificial intelligence story, upmarket and international expansion, and potential for margin expansion for the Outperform rating. The firm believes the company will be a beneficiary of generative AI while the market “is currently treating Five9 as a GenAI loser.”