Zacks Investment Research Upgrades LivePerson (LPSN) to “Hold”
LivePerson (NASDAQ:LPSN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other equities analysts have also weighed in on the stock. BidaskClub lowered shares of LivePerson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 3rd. LADENBURG THALM/SH SH restated a “buy” rating and issued a $27.00 price objective on shares of LivePerson in a report on Friday, November 9th. Finally, B. Riley set a $32.00 price objective on shares of LivePerson and gave the company a “buy” rating in a report on Friday, November 9th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $27.17.
LivePerson (NASDAQ:LPSN) last released its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.03) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). LivePerson had a negative net margin of 9.21% and a negative return on equity of 5.32%. The business had revenue of $64.21 million for the quarter, compared to analysts’ expectations of $62.55 million. During the same period in the prior year, the firm earned $0.05 earnings per share. LivePerson’s revenue was up 13.7% compared to the same quarter last year. On average, research analysts expect that LivePerson will post -0.12 earnings per share for the current year.
In other LivePerson news, EVP Monica L. Greenberg sold 1,466 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $26.55, for a total value of $38,922.30. Following the sale, the executive vice president now directly owns 39,849 shares in the company, valued at $1,057,990.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert P. Locascio sold 2,567 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $26.55, for a total transaction of $68,153.85. Following the completion of the sale, the chief executive officer now owns 316,239 shares in the company, valued at $8,396,145.45. The disclosure for this sale can be found here. Insiders sold 48,854 shares of company stock worth $1,105,304 over the last 90 days. 11.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in LivePerson by 8.2% in the third quarter. BlackRock Inc. now owns 8,453,719 shares of the technology company’s stock worth $219,373,000 after purchasing an additional 639,267 shares during the period. Vanguard Group Inc. raised its holdings in LivePerson by 4.5% in the third quarter. Vanguard Group Inc. now owns 5,739,844 shares of the technology company’s stock worth $148,949,000 after purchasing an additional 247,448 shares during the period. FMR LLC raised its holdings in LivePerson by 7.2% in the third quarter. FMR LLC now owns 3,791,378 shares of the technology company’s stock worth $98,386,000 after purchasing an additional 255,264 shares during the period. Vista Equity Partners Management LLC raised its holdings in LivePerson by 216.3% in the third quarter. Vista Equity Partners Management LLC now owns 939,605 shares of the technology company’s stock worth $24,383,000 after purchasing an additional 642,548 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in LivePerson in the second quarter worth $16,735,000. Institutional investors own 78.58% of the company’s stock.
LivePerson Company Profile
LivePerson, Inc provides mobile and online business messaging solutions that power digital communication between brands and consumers. It operates in two segments, Business and Consumer. The Business segment facilitates real-time online interactions, such as chat, voice, and content delivery across multiple channels and screens for corporations of various sizes.
Recommended Story: Earnings Reports
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LivePerson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LivePerson and related companies with MarketBeat.com's FREE daily email newsletter.