Deutsche Bank raised the firm’s price target on Five9 to $90 from $85 and keeps a Buy rating on the shares ahead of the Q4 report. The analyst says Five9 remains the firm’s top idea in the communication software space, given an “under-penetrated” cloud contact center total addressable market and near-term upside potential from automation solutions. The firm believes the company’s preliminary outlook for 16% revenue growth in 2024 could also prove conservative.
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