11 AI Stocks That Should Be On Your Watchlist

8. Five9, Inc. (NASDAQ:FIVN)

Number of Hedge Fund Holders: 29

Five9, Inc. (NASDAQ:FIVN) is a technology company that offers cloud software solutions for contact centers. On January 17, Needham analyst Scott Berg maintained their bullish stance on Five9 stock, giving a Buy rating and a $52 price target. The firm had a virtual fireside chat with Five9’s leadership at the 27th Annual Needham Growth Conference, revealing several factors that have led to the buy rating. In particular, the firm’s conversation with the leadership has highlighted how strong Five9’s position is in the AI domain. This in turn demonstrates how their technological advancements allow them to be favored in various selection processes.

The company has been leveraging artificial intelligence for years. In particular, its “Genius AI Suite” helps to power virtual agents, providing personalized customer interactions across voice and digital channels. The firm also had discussions with the company’s CEO and CFO regarding the impact of artificial intelligence on sales cycles. They also revealed positive trends in Net Revenue Retention (NRR) and the factors leading to its improvement. The firm’s positive outlook is also attributed to Five9’s potential to expand its Total Addressable Market (TAM) through the FedRAMP authorization, a certification that states that an organization’s products and services meet federal security standards.