Five9 reported second-quarter earnings that topped estimates. The company also got a rating upgrade from analysts at J.P. Morgan.
The cloud technology company’s second-quarter earnings came in at of 20 cents a share, higher than analysts’ expectation of 12 cents a share. Revenue increased +27% year-over-year to $77.4 million, close to analysts’ estimates.
What’s more, analysts at J.P. Morgan upgraded Five9 stock to overweight from neutral, while also increasing their price target on the shares to $70 from $59.