Five9, Inc (FIVN) PT Raised to $33 at DA Davidson on Growth Outlook, AI Benefits
DA Davidson analyst Clark Wright raised the price target on Five9, Inc (NASDAQ: FIVN) to $33.00 (from $28.00) while maintaining a Neutral rating.
The analyst commented, "The company has successfully executed on the reacceleration pathway it outlined entering the year, with total revenue growth accelerating 2 points Y/Y to 10% as of 2Q and 3Q guidance implying another step up to approximately 12% Y/ Y growth. Guidance for the back half of the year appears achievable, with the anticipated acceleration not dependent on incremental new logo growth...Given a more favorable stance around the company's growth outlook and AI benefits, we are increasing our price target to $33 based on 10x '27 FCF, a 2 turn discount to the median of SaaS peers growing 0%-10%."
