Five9, Inc (FIVN) PT Raised to $212 at Piper Sandler
Piper Sandler analyst James Fish raised the price target on Five9, Inc (NASDAQ: FIVN) to $212.00 (from $206.00) while maintaining a Overweight rating following the company's 4Q earnings report. Five9 reported another record quarter, with results and guidance outperforming expectations. Revenue growth accelerated once again to a record 39% Y/ Y ($128M), beating expectations and the high-end of guide by 11% due to subscriptions and usage.
Management guided Q1 revenue 6% above expectations, suggesting 29% Y/Y growth at the midpoint, while guiding 2021 to ~20% Y/Y growth 4% above the Street and 2% above prior guide.