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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FIVN:
- Five9 price target raised by $10 at Morgan Stanley, here’s why
- Nice price target raised to $260 from $220 at Morgan Stanley
- Five9 price target raised by $10 at Deutsche Bank, here’s why
- Five9 down 5% at $76.16 afterhours after stating it is not interested in sale
- Five9 says was approached over acquisition, says not pursuing such deal