LivePerson, Inc. (LPSN) Receives Average Rating of “Buy” from Brokerages
Shares of LivePerson, Inc. (NASDAQ:LPSN) have been given an average recommendation of “Buy” by the nine brokerages that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $12.48.
LPSN has been the subject of several recent analyst reports. Roth Capital upped their price target on LivePerson from $10.00 to $15.00 in a research note on Tuesday, June 20th. Benchmark Co. upped their price target on LivePerson from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 15th. Northland Securities reiterated a “buy” rating and set a $14.00 price target on shares of LivePerson in a research note on Tuesday, July 25th. Needham & Company LLC initiated coverage on LivePerson in a research note on Thursday, September 21st. They set a “buy” rating and a $16.00 price target for the company. Finally, Zacks Investment Research upgraded LivePerson from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Wednesday, August 2nd.
LivePerson (LPSN) remained flat at $14.70 during trading on Friday. 933,107 shares of the stock traded hands. The stock’s market cap is $865.83 million. LivePerson has a 52-week low of $5.43 and a 52-week high of $14.85. The firm’s 50-day moving average price is $13.53 and its 200 day moving average price is $10.83.
LivePerson (NASDAQ:LPSN) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). LivePerson had a negative return on equity of 8.71% and a negative net margin of 13.29%. The firm had revenue of $54.10 million during the quarter, compared to analyst estimates of $51.33 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts expect that LivePerson will post $0.10 EPS for the current fiscal year.
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In related news, CEO Robert P. Locascio sold 2,572 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $13.66, for a total transaction of $35,133.52. Following the completion of the sale, the chief executive officer now owns 76,435 shares in the company, valued at approximately $1,044,102.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dustin Dean sold 2,400 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $11.73, for a total value of $28,152.00. Following the sale, the executive vice president now owns 70,987 shares of the company’s stock, valued at approximately $832,677.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,774 shares of company stock valued at $1,963,593. 11.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC bought a new stake in LivePerson during the 2nd quarter valued at approximately $128,000. Castleark Management LLC bought a new stake in LivePerson during the 2nd quarter valued at approximately $4,775,000. The Manufacturers Life Insurance Company boosted its stake in LivePerson by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,917 shares of the technology company’s stock valued at $483,000 after purchasing an additional 1,285 shares during the period. BlueCrest Capital Management Ltd bought a new stake in LivePerson during the 2nd quarter valued at approximately $131,000. Finally, State Street Corp boosted its stake in LivePerson by 6.1% during the 2nd quarter. State Street Corp now owns 1,292,357 shares of the technology company’s stock valued at $14,219,000 after purchasing an additional 74,645 shares during the period. Hedge funds and other institutional investors own 74.86% of the company’s stock.
LivePerson Company Profile
LivePerson, Inc (Liveperson) is a provider of mobile and online business messaging technologies that power digital communication between brands and consumers. The Company’s segments include Business and Consumer. The Business segment enables brands to leverage its cloud-based LiveEngage’s intelligence engine.
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