- The shares of Five9 (NASDAQ: FIVN) have received a price target of $195 from UBS. These are the details.
The shares of Five9 (NASDAQ: FIVN) have received a price target of $195 from UBS. And UBS analyst Taylor McGinnis increased Five9 from a previous price target of $175 while upgrading to a “Buy” rating from “Neutral.”
McGinnis noted that the company reported 38% revenue growth against a tougher comp in Q3. While McGinnis was optimistic heading into the earnings report, he is looking for clarity on future growth in light of other earnings misses to get more constructive. And he received that color as the company guided to FY22 revs growth of 24%, which was above past pre-COVID initial guides in the mid-teens.
Going forward, McGinnis sees Five9 as being well-positioned to sustain high growth in the near future and is raising his FY22 revenue growth estimate to 26% from 23% after the quarterly report.
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