Why Five9 Stock Zoomed Almost 4% Higher Today
A young demographic could help lift the fortunes of contact center solutions provider (NASDAQ: FIVN). In a new research note published Tuesday, one analyst tracking the company pointed out that it could benefit strongly from catering to such a user base. Investors clearly took this argument to heart, as they ended up piling in to Five9 shares and sending them nearly 4% higher in price.
That analyst was Piper Sandler's James Fish. In his latest take on Five9 stock, he reiterated his overweight (buy, in other words) recommendation and $86 per-share price target. At that level, Fish is anticipating a nearly 40% rise in price.
In the note, the Piper Sandler prognosticator opined that around 50% of teenage consumers still prefer to use their phones for customer service functions. Such solutions are Five9's wheelhouse, so if Fish is accurate and this trend holds, it could be quite the foundation for the company's business.
Source Fool.com
