02:35 PM EDT, 05/03/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $80, applying an EV/revenue multiple of 5.7x to our '24 estimate, a premium to peers, reflecting our positive outlook for the company. We trim our '24 and '25 EPS estimates by $0.01 to $2.18 and $2.68, respectively. FIVN reported Q1 operating EPS of $0.48 vs. $0.41, $0.07 above the consensus. Q1 revenue increased 13%, driven by 23% growth in Quality and Enterprise subscriptions on new logo adds and a substantial backlog, with recurring revenue now representing 92% of total revenue. Migration to cloud contact center platforms continues to be a top priority for enterprises, particularly as many on-premises solutions are at their end of life. With current cloud penetration standing at approximately 25%-30%, we believe there is a multi-year durable growth opportunity ahead.