As previously reported, Rosenblatt analyst Ryan Koontz upgraded Five9 (FIVN) to Buy from Neutral with a price target of $75, up from $66, after coming away from the company's analyst event "thoroughly impressed." During the meeting, CEO Rowan Trollope articulated the company's "strong market position and vast market opportunity," said Koontz, who expresses confidence that both the company and key competitor NICE (NICE) are likely to see continued success ahead of a multi-year cycle. He also sees "downside protection" for Five9 shares given what he views as an acquisition premium in the stock.

Rosenblatt initiated coverage of Nice with a Buy rating and $285 price target. The firm believes Nice is well positioned across the large and mid-sized enterprise market to take share from legacy players due to an increase in demand for AI and automation in the contact center and views the company's cloud business as a 20%-plus year-over-year grower over the mid-term, the analyst tells investors.