派珀·桑德勒（Piper Sandler）降级、下调价格目标，Five 9成为焦点

2026-01-05 21:24

Five9 (FIVN) was in focus on Monday as Piper Sandler downgraded the cybersecurity company and cut its price target on the stock.
Shares fell fractionally in premarket trading.
“While shares look compelling on risk-reward & valuation bases, FCF has room to move higher, and Five9 is gaining broader CX share gradually, it is not really gaining share within [contact-center-as-a-service], isn't as well-positioned upmarket as others, is facing more competition, and there have been multiple go-to-market shuffles over the last few quarters,” analyst James Fish wrote in a note to clients. “Growth is decelerating to [less than] 10%, and while management has given color for 2026 already that includes a re-acceleration in 2H26 to [more than] 10%, it will likely take some time for this to play out and AI concerns continue to weigh on primarily seat-based models like Five9 (despite AI traction and shift towards more consumption). A new CEO has taken over, but the best path medium-term would be likely to go private at this stage.”

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