Five9 price target raised to $24 from $21 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Five9 (FIVN) to $24 from $21 and keeps a Neutral rating on the shares. The firm notes shares were up 15% after-hours as Five9’s revenue showed a slight re-acceleration that was marked by AI underneath accelerating as large customers ramp their deployments. AI is now 10% of the overall, and CCaaS exhibited ‘stable growth’ as seats aren’t going away. Guide was raised by only the Q1-upside flow-through essentially that makes this a still conservative setup on easy compares heading into the remaining quarters, Piper adds.