.July 12, 2024 09:52 AM

Truist Securities analysts reiterated their Buy rating and set a $100 price target on Five9 (NASDAQ:FIVN) following reports of activist investor Anson Funds acquiring a stake and advocating for the company’s sale. Five9 has previously denied acquisition pursuits but remains in the spotlight. The analysts’ Buy rating is based on Five9’s potential to meet growth improvement targets in the second half of 2024 and enhance profitability. They highlighted the company’s enterprise contact center business strength and revenue opportunities from Generative AI and automation.