Five9 price target raised to $105 from $85 at Rosenblatt

Rosenblatt analyst Catharine Trebnick raised the firm’s price target on Five9 to $105 from $85 and reiterates a Buy rating on the shares. The company continues to move upmarket into large enterprises, and is leveraging its CVS win in healthcare to drive customer acquisitions, including recently landing a large financial institution and replacing Avaya, the analyst tells investors in a research note. The firm views this as a “game changer” for Five9. It believes the company will continue to use this template to expand its footprint deeper into the financial sector.