LivePerson (LPSN) Hits New 52-Week High at $27.20

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LivePerson, Inc. (NASDAQ:LPSN)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.20 and last traded at $26.85, with a volume of 9922 shares trading hands. The stock had previously closed at $27.15.

Several equities analysts have issued reports on the company. BidaskClub upgraded LivePerson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 21st. B. Riley lifted their target price on LivePerson from $19.25 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Needham & Company LLC lifted their target price on LivePerson from $20.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Roth Capital lifted their target price on LivePerson to $31.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research lowered LivePerson from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $25.29.

LivePerson (NASDAQ:LPSN) last posted its earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. LivePerson had a negative return on equity of 3.34% and a negative net margin of 7.06%. The company had revenue of $61.66 million for the quarter, compared to analyst estimates of $59.46 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. research analysts forecast that LivePerson, Inc. will post -0.08 earnings per share for the current fiscal year.

In other LivePerson news, SVP Daryl Carlough sold 1,493 shares of the firm’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $22.20, for a total value of $33,144.60. Following the completion of the sale, the senior vice president now owns 13,154 shares of the company’s stock, valued at $292,018.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert P. Locascio sold 2,385 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $23.80, for a total value of $56,763.00. Following the completion of the sale, the chief executive officer now directly owns 318,806 shares of the company’s stock, valued at approximately $7,587,582.80. The disclosure for this sale can be found here. In the last three months, insiders sold 33,654 shares of company stock valued at $780,517. Corporate insiders own 11.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in LivePerson by 15.3% in the second quarter. Bank of New York Mellon Corp now owns 702,631 shares of the technology company’s stock worth $14,826,000 after acquiring an additional 93,049 shares in the last quarter. California Public Employees Retirement System boosted its holdings in LivePerson by 14.5% in the second quarter. California Public Employees Retirement System now owns 109,558 shares of the technology company’s stock worth $2,312,000 after acquiring an additional 13,858 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in LivePerson in the second quarter worth about $156,000. Intrinsic Edge Capital Management LLC acquired a new stake in LivePerson in the second quarter worth about $7,385,000. Finally, BlueMountain Capital Management LLC boosted its holdings in LivePerson by 29.7% in the second quarter. BlueMountain Capital Management LLC now owns 23,280 shares of the technology company’s stock worth $491,000 after acquiring an additional 5,336 shares in the last quarter. 78.84% of the stock is owned by institutional investors and hedge funds.

About LivePerson (NASDAQ:LPSN)

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.

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