Five9 price target raised to $89 from $61 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Five9 to $89 from $61 and keeps an Overweight rating on the shares. After a "volatile" 2022 and in conjunction with his cloud automation software themes for 2023, the analyst is reiterating his top three picks: Five9 (FIVN), Arista Networks (ANET) and Nutanix (NTNX). The three names have a favorable competitive landscape in large markets where they are each playing a role in disrupting, Fish tells investors in a research note.