Zacks Investment Research Downgrades LivePerson (LPSN) to Sell
LivePerson (NASDAQ:LPSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
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 a number of other research reports. Roth Capital upped their price target on shares of LivePerson to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. BidaskClub cut shares of LivePerson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 3rd. Needham & Company LLC upped their price target on shares of LivePerson from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Finally, B. Riley upped their price target on shares of LivePerson from $19.25 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.50.
LivePerson (NASDAQ:LPSN) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.01. The business had revenue of $61.66 million for the quarter, compared to analysts’ expectations of $59.46 million. LivePerson had a negative net margin of 7.06% and a negative return on equity of 3.34%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, equities research analysts expect that LivePerson will post -0.08 EPS for the current fiscal year.
In other news, CEO Robert P. Locascio sold 2,567 shares of the 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 of the company’s stock, valued at approximately $8,396,145.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Daryl Carlough sold 1,493 shares of the stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $22.20, for a total transaction of $33,144.60. Following the transaction, the senior vice president now directly owns 13,154 shares in the company, valued at approximately $292,018.80. The disclosure for this sale can be found here. Insiders have sold a total of 23,624 shares of company stock worth $566,860 in the last three months. Insiders own 11.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LPSN. Advisory Services Network LLC bought a new position in shares of LivePerson during the 2nd quarter worth about $108,000. Bank of Montreal Can bought a new position in shares of LivePerson during the 2nd quarter worth about $139,000. Tower Research Capital LLC TRC bought a new position in shares of LivePerson during the 2nd quarter worth about $156,000. SG Americas Securities LLC acquired a new stake in shares of LivePerson in the 2nd quarter worth about $165,000. Finally, Profund Advisors LLC acquired a new stake in shares of LivePerson in the 1st quarter worth about $170,000. 78.84% of the stock is currently owned by institutional investors.
LivePerson, Inc engages in the provision of mobile and online messaging solutions. It operates through Business and Consumer segments. The Business segment enables brands to leverage intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.
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