Five9 price target raised to $45 from $40 at DA Davidson

DA Davidson raised the firm’s price target on Five9 (FIVN) to $45 from $40 and keeps a Neutral rating on the shares. The company’s Q3 resulted were better than feared, with top and bottom line results coming ahead of expectations and positive bookings trends despite a number of large deals slipping to Q4, which have since closed, the analyst tells investors in a research note. Positive AI trends also reinforce the belief that Five9 and leading CCaaS vendors are well positioned to benefit from GenAI over the long term, the firm added.