Five9, Inc (FIVN) PT Raised to $60 at Canaccord Genuity

Canaccord Genuity analyst David Hynes raised the price target on Five9, Inc (NASDAQ: FIVN) to $60.00 (from $45.00) while maintaining a Buy rating. Five9 posted record Q4 results with revenue, EBITDA and non-GAAP EPS of $72.3M, $16.4M, and $0.23, which were respectively $5.5M, $5.7M, and $0.09 ahead of estimates.

Looking ahead, Five9’s C2019 outlook is characteristically conservative, calling for 17% revenue growth and roughly 150-200 bps of EBITDA margin compression.

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