Five9 price target lowered to $25 from $35 at RBC Capital

RBC Capital lowered the firm’s price target on Five9 (FIVN) to $25 from $35 and keeps an Outperform rating on the shares. The company reported solid Q4 results and encouragingly, core CCaaS revenue grew 8% y/y, with the management noting acceleration and healthy seat trends, the analyst tells investors in a research note. RBC adds it was pleased to see continued AI traction with enterprise AI annual recurring revenue over $100M and enterprise AI revenue growth accelerating to 50%, noting however that its price target cut reflects peer multiple compression.