Cantor Fitzgerald analyst Thomas Blakey lowered the firm’s price target on Five9 (FIVN) to $36 from $57 and keeps an Overweight rating on the shares as part of a broader note on Infrastructure and AI Software companies. Software has underperformed year-to-date, with the IGV software benchmark down 10%, the analyst tells investors in a research note. The firm lowered its price target given the sharp pullback in software.
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