Stock Track | Five9 Plummets 5.54% Intraday Following Analyst Price Target Cuts

Stock Track02-23 22:37

Five9's stock price plummeted 5.54% during intraday trading on Monday, reflecting negative market sentiment toward the cloud contact center software provider.

The decline followed analyst actions that signaled reduced expectations for the company's stock performance. Baird analyst William Power significantly lowered the firm's price target on Five9 to $19 from $24 while maintaining a Neutral rating on the shares.

Separately, Piper Sandler maintained a Hold rating on Five9 with a price target of $21.00. The combination of these analyst assessments, particularly the substantial price target reduction from Baird, contributed to the stock's downward movement as investors reassessed their positions.

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