LivePerson (LPSN) Rating Lowered to Sell at Zacks Investment Research

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LivePerson (NASDAQ:LPSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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 several other research reports. Roth Capital boosted their target price on shares of LivePerson to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. 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 target price on shares of LivePerson in a report on Friday, November 9th. Needham & Company LLC boosted their target price on shares of LivePerson from $20.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, B. Riley set a $32.00 target price on shares of LivePerson and gave the company a “buy” rating in a report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $27.17.

Shares of LivePerson stock opened at $18.76 on Tuesday. LivePerson has a twelve month low of $10.80 and a twelve month high of $27.40.

LivePerson (NASDAQ:LPSN) last released its earnings results on Thursday, November 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $64.21 million for the quarter, compared to analyst estimates of $62.55 million. LivePerson had a negative net margin of 9.21% and a negative return on equity of 5.32%. LivePerson’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share. Sell-side analysts expect that LivePerson will post -0.12 EPS for the current year.

In other news, EVP Monica L. Greenberg sold 1,466 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $38,922.30. Following the transaction, the executive vice president now owns 39,849 shares in the company, valued at $1,057,990.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Locascio sold 2,567 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $68,153.85. Following the transaction, the chief executive officer now owns 316,239 shares in the company, valued at approximately $8,396,145.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,854 shares of company stock worth $1,105,304. 11.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in LPSN. Advisory Services Network LLC acquired a new position in shares of LivePerson during the second quarter valued at about $108,000. Bank of Montreal Can acquired a new position in shares of LivePerson during the second quarter valued at about $139,000. Tower Research Capital LLC TRC acquired a new position in shares of LivePerson during the second quarter valued at about $156,000. SG Americas Securities LLC acquired a new position in shares of LivePerson during the second quarter valued at about $165,000. Finally, Engineers Gate Manager LP acquired a new position in shares of LivePerson during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 80.06% of the company’s stock.

About LivePerson

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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