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AI an opportunity for Five9, not a threat – Mizuho analysts
AI an opportunity for Five9, not a threat – Mizuho analysts By Investing.com
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Published May 31, 2023 09:32AM ET
(C) Reuters. AI an opportunity for Five9 (FIVN), not a threat says Mizuho analyst
Mizuho analysts initiated coverage of Five9 (NASDAQ:FIVN) with a Buy rating and $100 price target in a note to clients Wednesday.
The analysts told investors in a note that AI is an opportunity, not a threat, to the Five9 story. FIVN shares are up more than 1% premarket, adding to Tuesday’s over 3% gain.
“Five9 is a pure-play Contact Center-as-a-Service (CCaaS) vendor that should benefit from 1) the migration to the cloud in contact centers; and 2) the automation of customer interactions with Generative AI,” wrote the analysts.
They believe those factors should enable Five9 to gain share and the incremental revenue opportunity.
“We believe investors under-appreciate Five9’s long-term growth potential (as evidenced by consensus 2027 estimates) as the company still has many largely untapped opportunities that can re-accelerate revenue growth to a ~25% rate (upmarket penetration, international, ARPU uplift from conversational AI),” they concluded.
AI an opportunity for Five9, not a threat – Mizuho analysts
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