Five9 price target raised to $90 from $75 at Needham, named 2023 Top Pick

Needham analyst Scott Berg raised the firm’s price target on Five9 to $90 from $75 and keeps a Buy rating on the shares. The analyst also names the stock as his Top Pick for 2023. Berg states that secular demand trends are not just strong today as he expects automation innovations to be "more recession-resistant" than other areas in his coverage. The analyst is also positive on Five9’s revenue recognition model that is driving "the most visible and predictable revenue model" in his coverage.