UPDATE: Jefferies Starts Five9, Inc (FIVN) at Buy
Jefferies analyst Samad Samana initiates coverage on Five9, Inc (NASDAQ: FIVN) with a Buy rating and a price target of $220.00.
The analyst commented, "FIVN's leadership in CCaaS positions it well to deliver durable >20% growth for the next several years. We expect share gains in a $24B+ TAM, upmarket success, and product portfolio expansion to power this growth. While COVID boosted FIVN's growth in 2020(+33%), we see even better days on the horizon as enterprises are forced to modernize. Shares are not cheap at 21X EV/2022 rev, but we believe the premium valuation is justified. Initiate Buy, $220 PT."
Shares of Five9, Inc closed at $185.24 yesterday.
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