10 Oversold NASDAQ Stocks To Invest In Now

5. Five9, Inc. (NASDAQ:FIVN)  

Number of Hedge Fund Investors: 34  

Forward P/E Ratio as of October 23: 12.22  

YTD Performance as of October 23: -61.67%  

Five9, Inc. (NASDAQ:FIVN) provides cloud contact center software (CCaaS) that enables businesses to enhance customer engagement through its Intelligent CX Platform, which supports communication across multiple channels, including phone, email, and social media. The company has a strong global presence, serving over 2,500 customers and working with more than 1,400 partners worldwide.

Five9, Inc. (NASDAQ:FIVN) is prioritizing the improvement of customer experiences by incorporating automation and AI into its offerings. These AI and automation tools are expected to be key drivers of future growth and profitability, as they offer higher gross margins than traditional contact center software. By offering a comprehensive suite of AI-powered and automated contact center solutions, Five9, Inc. stands out in the market, positioning itself for continued revenue growth and profitability.

On October 10, Five9, Inc. (NASDAQ:FIVN) announced its expanded presence in India, establishing two new data centers in Delhi and Mumbai. This expansion supports both local and multinational companies in the region, enabling them to enhance customer experience strategies. The company also acquired a Department of Telecommunications (DOT) Unified License (Virtual Network Operator) (UL VNO) in India, allowing it to offer access, national long-distance, and international long-distance services. This license also facilitates partnerships with local carriers and ISPs to provide telephony and network connectivity services in India.

Recently, Five9, Inc. (NASDAQ:FIVN) secured a significant new client, which is expected to contribute an additional $50 million in annual recurring revenue (ARR) in the coming years. The growing demand for AI-powered contact center solutions is anticipated to be a strong growth driver for Five9, Inc. (NASDAQ:FIVN). As the AI contact center market is projected to reach $14.6 billion by 2032, Five9, Inc. (NASDAQ:FIVN) is well-positioned to capture a considerable market share. The company is projected to achieve 10.18% earnings growth this year, and industry analysts have given the stock a consensus Buy rating, with an average target price of $51.96, suggesting a 53.99% potential upside from current levels.