Five9 (NASDAQ:FIVN) Rating Reiterated by Needham & Company LLC

Five9 is a leading provider of cloud-based contact center software solutions. The company's stock is listed on the NASDAQ Global Select Market under the ticker symbol "FIVN". On August 12, 2021, Needham & Company LLC, a leading independent investment bank and financial services firm, reiterated its rating of Five9 as "Buy" with a target price of $350 per share.

The reiteration of the rating reflects Needham's continued confidence in Five9's growth prospects and its ability to deliver strong financial performance. The company has been experiencing steady growth in recent years, driven by increasing demand for its cloud-based contact center solutions from both small and large enterprises. In addition, Five9 has a strong competitive position in the market, with a growing customer base and a robust product portfolio that includes advanced analytics, AI-powered automation, and omnichannel capabilities.

Needham's analysts also noted that Five9 has a strong balance sheet, with a cash reserve of $1.2 billion as of June 30, 2021, which provides the company with ample liquidity to support its growth initiatives. The analysts also highlighted Five9's strong revenue growth, with total revenue increasing by 45% year-over-year in Q2 2021, and a net retention rate of 137%.

Overall, Needham's reiteration of its "Buy" rating for Five9 reflects the company's strong growth prospects, robust financial position, and competitive advantage in the market.