In a report released today, Scott Berg from Needham maintained a Buy rating on Five9 (FIVN – Research Report), with a price target of $52.00.
Scott Berg has given his Buy rating due to a combination of factors including Five9’s recent strategic decisions and financial outlook. The company announced a reduction in force plan, which is expected to streamline operations and result in significant cost savings. This move is anticipated to lead to approximately $20 million in annual savings, enhancing the company’s financial efficiency.
Additionally, Five9 has expressed confidence in meeting or exceeding its prior guidance for the first quarter of 2025. Given the company’s track record of strong execution, there is an expectation that revenues will surpass the guidance range. These factors collectively contribute to a positive outlook for Five9, justifying the Buy rating.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FIVN in relation to earlier this year.