LivePerson (NASDAQ:LPSN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of LivePerson (NASDAQ:LPSN) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. They currently have $37.00 price target on the technology company’s stock.

According to Zacks, “LivePerson, Inc. is the leading provider of mobile and online messaging business solutions, enabling a meaningful connection between brands and consumers. LivePerson opens the new click-to-message ad extension to larger companies by adding three important dimensions. First, it tracks and distributes ad responses to teams that may be across geographies – essential for an ad campaign at a larger scale – and measures the results. LivePerson provides an optional, pay-for-performance team of people who can answer these SMS conversations and can handle many queries itself, or transfer them to in-house representatives where needed. LivePerson enables brands to manage message conversations from many media and communications channels in one solution and one workforce. This lets large advertisers scale without staffing pains, and has been shown to improve conversion rates when deployed. “

LPSN has been the topic of a number of other research reports. Berenberg Bank started coverage on shares of LivePerson in a research note on Thursday, May 16th. They set a buy rating and a $40.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of LivePerson in a report on Monday, April 1st. They set a buy rating and a $36.00 price objective on the stock. Needham & Company LLC reiterated a buy rating and set a $35.00 price objective (up previously from $30.00) on shares of LivePerson in a report on Friday, May 3rd. KeyCorp assumed coverage on shares of LivePerson in a report on Thursday, July 11th. They set an overweight rating and a $36.00 price objective on the stock. Finally, BidaskClub upgraded shares of LivePerson from a hold rating to a buy rating in a report on Tuesday, July 23rd. Sixteen analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average target price of $35.13.

NASDAQ:LPSN traded up $0.27 during mid-day trading on Tuesday, reaching $34.04. The stock had a trading volume of 42,963 shares, compared to its average volume of 451,172. The business has a 50-day simple moving average of $29.68. The stock has a market capitalization of $2.19 billion, a PE ratio of -148.09 and a beta of 1.08. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.96. LivePerson has a 12 month low of $16.98 and a 12 month high of $35.09.

LivePerson (NASDAQ:LPSN) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.11). The firm had revenue of $71.00 million during the quarter, compared to the consensus estimate of $70.16 million. LivePerson had a negative net margin of 15.78% and a negative return on equity of 13.56%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. Sell-side analysts expect that LivePerson will post -0.52 earnings per share for the current fiscal year.

In other news, SVP Daryl Carlough sold 16,164 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $27.71, for a total transaction of $447,904.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Monica L. Greenberg sold 4,352 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $27.08, for a total transaction of $117,852.16. The disclosure for this sale can be found here. Insiders sold a total of 45,266 shares of company stock valued at $1,242,075 over the last ninety days. 9.70% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its position in shares of LivePerson by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,995 shares of the technology company’s stock valued at $645,000 after acquiring an additional 400 shares during the period. New York State Teachers Retirement System lifted its stake in LivePerson by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 138,526 shares of the technology company’s stock worth $4,020,000 after purchasing an additional 422 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in LivePerson by 2.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 20,306 shares of the technology company’s stock worth $569,000 after purchasing an additional 483 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in LivePerson by 9.0% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,100 shares of the technology company’s stock worth $255,000 after purchasing an additional 750 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its stake in LivePerson by 4.3% in the 1st quarter. Mason Street Advisors LLC now owns 18,891 shares of the technology company’s stock worth $548,000 after purchasing an additional 773 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

LivePerson Company Profile

LivePerson, Inc provides conversational commerce solutions. The company operates in two segments, Business and Consumer. The Business segment enables brands to leverage LiveEngage's intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.

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