Five9 Inc
FIVN: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$96.00 | Kvspw | Mqbpbncfd |
Five9 Earnings: Impressive Customer Wins Amid Macro Pressure on Seat Expansion
No-moat Five9 reported a reasonable start to fiscal 2024, with top-line growth and profitability marginally surpassing our expectations. Following the result, we have raised our medium-term margin forecasts based on improving operating leverage, resulting in a fair value estimate increase to $63 per share from $60. While shares jumped after the release, Five9 continues to screen as fairly valued on a risk-adjusted basis, and we prefer moatier, undervalued software peers.