Five9 price target raised to $78 from $65 at Jefferies

Jefferies raised the firm’s price target on Five9 to $78 from $65 and keeps a Hold rating on the shares. In Enterprise Communications, the firm expects growth to stabilize, but margin expansion to be less robust in 2024. If Five9 can deliver accelerating growth from large deals, the stock “may have further to run,” the analyst tells investors.