Five9 price target raised to $90 from $85 at Wells Fargo

Wells Fargo analyst Michael Turrin raised the firm’s price target on Five9 to $90 from $85 on higher estimates, and kept an Overweight rating on the shares. While the groundwork was set last quarter, the firm found the Q4 growth deceleration a bit more pronounced than expected and thinks Five9 shares are likely range-bound until reported metrics help further support the move upmarket + back toward long-term targets.