UPDATE: Roth Capital Downgrades Five9, Inc (FIVN) to Neutral

(updating comment)

Roth Capital analyst Richard Baldry downgraded Five9, Inc (NASDAQ: FIVN) from Buy to Neutral with a price target of $90.00.

The analyst comments "FIVN's 1Q20 results were good, with revenues well above forecast, but earnings only narrowly so and barely up yr/yr. While COVID-19 work from home issues appear to be driving increased interest and some demand, headwinds have also arisen from customer defaults. While we view the outlook for FIVN as strong, its valuation clearly reflects many positives. We are choosing to move to Neutral to await a more attractive re-entry point."

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 $88.69 yesterday.

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