{"id":4674,"date":"2023-05-05T14:15:17","date_gmt":"2023-05-05T18:15:17","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/five9-gains-as-strong-large-deal-flow-boosts-q1-results\/"},"modified":"2023-05-05T14:15:17","modified_gmt":"2023-05-05T18:15:17","slug":"five9-gains-as-strong-large-deal-flow-boosts-q1-results","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4674","title":{"rendered":"Five9 gains as strong large deal flow boosts Q1 results"},"content":{"rendered":"
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\u00a9 Reuters. Five9 (FIVN) gains as strong large deal flow boosts Q1 results<\/span>
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Five9 (NASDAQ:) shares jumped at Friday’s open on the back of its first quarter earnings and revenue beat.<\/p>\n

The company’s shares are currently trading 2% higher at $57.72. However, the stock initially opened as high as $63 per share.<\/p>\n

Five9 Q1 EPS of $0.41, $0.16 better than the analyst estimate of $0.25. Revenue for the quarter came in at $218.4 million versus the consensus estimate of $207.94 million.<\/p>\n

The software firm reported Q1 EPS of $0.41, $0.16 better than the analyst estimate of $0.25. Revenue for the quarter came in at $218.4 million versus the consensus estimate of $207.94 million.<\/p>\n

BTIG analysts said the beat was based on strong large deal flow.<\/p>\n

“On Thursday, May 4th, AMC, FIVN reported 1Q23 results that pointed to a strong recurring revenue base exceeding expectations with a $10mn beat and impressive EPS for the quarter, $0.16 higher than anticipated,” the analysts, who have a Buy rating and $100 price target on the stock, wrote.<\/p>\n

“The company signed several large deals during the quarter, exceeded expectations for Enterprise growth while building the pipeline to record levels, and disclosed a sizable deal signed in early 2Q with a large regional bank for the entire platform.”<\/p>\n

Morgan Stanley analysts maintained an Equal-Weight rating and a $75 price target on the stock.<\/p>\n

“FIVN beat Q1 meaningfully as Q\/Q patterns from seasonal customers were less severe than expected (largely as Q4 ramp-up was not as large). Similar to our take from Enterprise Connect, company aggressive in fighting narrative that AI is a negative for CCaaS, instead highlighting it as an opportunity,” the analysts said.<\/p>\n

Credit Suisse analysts kept a Neutral rating and $70 price target on FIVN shares, stating the company is an AI beneficiary.<\/p>\n

“We view reference customer wins as panacea in enterprise contact center deals. As a result, we are leaning increasingly positive on FIVN as their large enterprise wins have accelerated meaningfully. We are also impressed by mgmt’s international expansion execution,” explained the analysts.<\/p>\n

“On the other hand, gross margin decreased substantially in the quarter, despite lessening pressures from public cloud migration costs, which makes us incrementally more concerned on the platform’s public cloud scaling efficiency.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Five9 (FIVN) gains as strong large deal flow boosts Q1 results Five9 (NASDAQ:) shares jumped at Friday’s open on the back of its first quarter earnings and revenue beat. The company’s shares are currently trading 2% higher at $57.72. However, the stock initially opened as high as $63 per share. Five9 Q1 EPS […]<\/p>\n","protected":false},"author":1,"featured_media":2609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-4674","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nFive9 gains as strong large deal flow boosts Q1 results | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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