Craig Hallum Boosts LivePerson (NASDAQ:LPSN) Price Target to $45.00

LivePerson (NASDAQ:LPSN) had its price target boosted by Craig Hallum from $34.00 to $45.00 in a report published on Thursday, The Fly reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts also recently commented on the company. KeyCorp boosted their target price on LivePerson from $36.00 to $39.00 and gave the stock an overweight rating in a report on Thursday. BidaskClub raised LivePerson from a hold rating to a buy rating in a report on Tuesday, July 23rd. Benchmark reissued a buy rating and issued a $40.00 target price (up from $34.00) on shares of LivePerson in a report on Wednesday. Berenberg Bank initiated coverage on LivePerson in a report on Thursday, May 16th. They issued a buy rating and a $40.00 target price on the stock. Finally, Needham & Company LLC boosted their target price on LivePerson to $40.00 and gave the stock a positive rating in a report on Thursday. Sixteen analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of $35.13.

Shares of NASDAQ LPSN traded up $0.93 during mid-day trading on Thursday, hitting $34.70. 1,124,844 shares of the stock traded hands, compared to its average volume of 644,103. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.75 and a current ratio of 2.41. LivePerson has a 52 week low of $16.98 and a 52 week high of $35.09. The company has a market capitalization of $2.19 billion, a P/E ratio of -150.87 and a beta of 1.14. The stock has a fifty day moving average of $29.82.

LivePerson (NASDAQ:LPSN) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.11). LivePerson had a negative net margin of 21.09% and a negative return on equity of 22.65%. The firm had revenue of $71.00 million for the quarter, compared to the consensus estimate of $70.16 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts forecast that LivePerson will post -0.59 EPS for the current fiscal year.

In other news, EVP Monica L. Greenberg sold 23,601 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $27.29, for a total transaction of $644,071.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Daryl Carlough sold 16,164 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $27.71, for a total value of $447,904.44. The disclosure for this sale can be found here. Insiders sold 45,266 shares of company stock worth $1,242,075 over the last three months. Corporate insiders own 9.70% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new position in shares of LivePerson in the 4th quarter valued at about $4,515,000. Geode Capital Management LLC boosted its stake in shares of LivePerson by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 672,530 shares of the technology company’s stock valued at $12,683,000 after purchasing an additional 51,426 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of LivePerson by 28.1% in the 4th quarter. Bank of America Corp DE now owns 69,969 shares of the technology company’s stock valued at $1,319,000 after purchasing an additional 15,350 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of LivePerson by 360.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 18,364 shares of the technology company’s stock valued at $346,000 after purchasing an additional 14,378 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of LivePerson in the 4th quarter valued at about $313,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

About LivePerson

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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