Five9 is well-positioned to grow its market share in the software space as companies prioritize customer satisfaction, according to Deutsche Bank. The firm upgraded Five9, which provides cloud software services to customer contact centers, to buy from hold. Niknam thinks there is a significant runway for incremental growth in the cloud contact center as a service market, which he said has a size of about 16 million total agent seats globally. Only about 20% of these seats have transitioned to the cloud — which suggests additional room for growth. Shares also trade at an attractive valuation — and off peak-levels — despite "enhanced visibility toward re-accelerating growth," the analyst added.

---

Persons: Five9, Matt Niknam, Niknam, Michael Bloom Organizations: Deutsche Bank