Update (9:35 a.m.): Updated with Tuesday market open information.

NEW YORK (TheStreet) -- Barclays initiated coverage on Five9  (FIVN) - Get Five9 Inc. Report with an "overweight" rating and $10 price target. The firm believes the company is well-positioned to benefit as adoption of SaaS model accelerates.

The stock was up 4.1% to $6.85 at 9:34 a.m. on Tuesday.

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