Five9 price target raised to $75 from $70 at Jefferies

Jefferies analyst Samad Samana raised the firm’s price target on Five9 to $75 from $70 but keeps a Hold rating on the shares. The company’s Q2 results beat consensus for subscription revenue and operating margin, but sub revenue growth of 18% slowed from 20% in Q1 despite an easier comp, the analyst tells investors in a research note. While the stock will likely pullback on weakness in the consumer vertical, the new mega-deal to acquire Aceyus plus the management’s positive tone will be well-received by long-term investors, the firm added.