Five9 price target lowered to $40 from $67 at Roth Capital

Roth Capital lowered the firm’s price target on Five9 (FIVN) to $40 from $67 and keeps a Buy rating on the shares following the Q1 report. The company’s Q1 revenue results beat, but the guidance for Q2 revenue decline from Q1 “is unprecedented,” the analyst tells investors in a research note. The firm believes the guidance :may simply prove overly conservative as it has often in the past.” However, Roth no longer expects the stock to return to a premium valuation in the near-term given Five9’s slower year-over-year growth.