Five9

FIVN · NASDAQ

$34.31+$0.97 (+2.91%)TodayMarket closed · Oct 20, 7:36 PM ET

Prev close $33.34

FIVN analyst rating

BuyConsensus of 16 analysts over the last 12 months. 69% rate it a buy.

Strong buy0
Buy11
Hold5
Underperform0
Sell0

12-month price target · 24 analysts

Average $35.50 (+3.5% upside)

Low: $24.24
Now: $34.31
High: $52.50

Upgrades and downgrades

The latest rating actions, newest first

FIVN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Oct 16, 2026	Maintains	Buy	$36.00 → $48.00	48%
Barclays	Oct 13, 2026	Maintains	Overweight	$34.00 → $40.00	56%
Cantor Fitzgerald	Sep 21, 2026	Maintains	Overweight	$34.00 → $40.00	55%
FBN Securities	Sep 16, 2026	Initiates	Outperform	$40.00	56%
Truist Securities	Aug 31, 2026	Maintains	Buy	$35.00 → $40.00	50%
Wells Fargo	Aug 25, 2026	Maintains	Equal-Weight	$24.00 → $32.00	56%
Canaccord Genuity	Aug 24, 2026	Maintains	Buy	$33.00 → $39.00	52%
DA Davidson	Aug 10, 2026	Maintains	Neutral	$22.00 → $28.00	58%
Baird	Aug 10, 2026	Maintains	Neutral	$22.00 → $30.00	74%
Barclays	Aug 10, 2026	Maintains	Overweight	$25.00 → $34.00	56%

The case for and against

Updated Oct 14, 2026

Bull case

Five9 is well positioned for durable growth because its cloud-native CCaaS platform sits in a large market with low cloud penetration, meaningful on-premise displacement opportunity, and strong enterprise demand for modernization. Its AI portfolio is increasingly proving to be a growth engine, with AI-related ARR rising to $150 million and growing 78% year over year in 2Q, while total revenue reached $312 million, subscription revenue grew 14%, and RPO increased 26%, signaling strong backlog conversion and visibility. The combination of stable CCaaS growth, expanding AI mix, a $100 million TCV mega deal, and rising operating leverage supports the view that Five9 can continue to compound revenue, margins, and cash flow over time.

Bear case

Five9 is facing a weaker fundamental outlook as macro uncertainty, tariffs, and geopolitical headlines could curb software spending, while AI disruption may lower barriers to entry and erode its moat. Competitive pressure from NICE, Cisco, and Avaya, plus the threat of Microsoft or Salesforce entering more aggressively, could slow new customer wins and expansion sales, especially given 4–6 month sales cycles and a seat-based model vulnerable to AI-driven efficiency. Although enterprise scale is improving, with 1M+ ARR customers rising from 59 to 211, the reliance on product expansion, channels, and international investments creates execution risk that could underwhelm durable growth.

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