Five9 Inc FIVN has reaffirmed its first-quarter guidance, projecting a performance that is in line with or better than the previous quarter's results, according to Rosenblatt Securities.

The Five9 Analyst: Analyst Catharine Trebnick reiterated a Buy rating and price target of $58.

The Five9 Thesis: Given the current macro environment, the company reaffirming its guidance is a positive, Trebnick said in the note.

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Management also guided to full-year growth of 10%, while announcing a 4% reduction in its workforce, following 7% cut in August 2024, she added.

"The savings will be strategically reinvested with emphasis on AI development, and AI integration with its CCaaS platform," the analyst wrote.

Five9 plans to focus on cost-cutting to drive profitability, which is a "modest positive," she further stated.

Management will provide guidance for the second quarter and a more detailed full-year outlook at its next earnings call in early May, Trebnick said.

FIVN Price Action: Shares of Five9 had declined by 6.54% to $23.58 at publication on Friday.

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