Needham & Company Assumes Five9, Inc (FIVN) at Buy

Needham & Company assumes coverage on Five9, Inc (NASDAQ: FIVN) with a Buy rating and a price target of $11.00.

Analyst Scott Berg commented, "We assume coverage of Five9 (FIVN) with a Buy rating and $11 price target. We believe Five9 has the characteristics that growth investors seek in today’s software sector: 1) a large TAM that remains in the early stages of a secular SaaS transition, 2) an operating model beginning to drive significant leverage and an outlook for positive FCF in Fy17, and 3) a highly visible subscription-based operating model with high renewal rates. We believe these characteristics are augmented by a strong demand environment and competitive product positioning that can drive upside to current consensus estimates for several years. When combined with an attractive valuation at 2.5x EV/FY17 revenues, we believe FIVN shares are well positioned to outperform over the near term vs increased expectations."

For an analyst ratings summary and ratings history on Five9, Inc click here. For more ratings news on Five9, Inc click here.

Shares of Five9, Inc closed at $9.10 yesterday.

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