LivePerson Inc. (LPSN) Stock Rating Upgraded by Zacks Investment Research
LivePerson Inc. (NASDAQ:LPSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $9.75 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.72% from the company’s current price.
According to Zacks, “LivePerson Inc. is a provider of technology that facilitates real-time sales and customer service for companies doing business on the Internet. The company is an application service provider and they offer the proprietary real-time interaction technology as an outsourced service. The service appears as a LivePerson-branded or custom-created icon on the clients’ Web sites. When an Internet user clicks on the icon, a pop-up dialogue window appears, enabling the clients to communicate directly with Internet users via text-based chat. “
Several other research analysts have also commented on the company. Benchmark Co. raised their price target on LivePerson from $8.45 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Credit Suisse Group AG set a $6.00 price target on LivePerson and gave the stock a “hold” rating in a research note on Wednesday, November 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. LivePerson has an average rating of “Buy” and an average target price of $9.35.
Shares of LivePerson (NASDAQ:LPSN) opened at 8.65 on Tuesday. The firm’s market capitalization is $501.44 million. The firm’s 50-day moving average is $8.43 and its 200-day moving average is $7.47. LivePerson has a 52 week low of $3.74 and a 52 week high of $8.85.
LivePerson (NASDAQ:LPSN) last issued its earnings results on Tuesday, November 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. The firm earned $54.50 million during the quarter, compared to analysts’ expectations of $54.51 million. LivePerson had a negative return on equity of 5.91% and a negative net margin of 15.46%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. Equities analysts anticipate that LivePerson will post ($0.07) EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new stake in shares of LivePerson during the second quarter valued at $107,000. SG Americas Securities LLC acquired a new stake in shares of LivePerson during the third quarter valued at $109,000. Alambic Investment Management L.P. raised its stake in shares of LivePerson by 50.4% in the third quarter. Alambic Investment Management L.P. now owns 16,122 shares of the company’s stock valued at $136,000 after buying an additional 5,400 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of LivePerson by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the company’s stock valued at $139,000 after buying an additional 100 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of LivePerson by 5.4% in the second quarter. Thrivent Financial for Lutherans now owns 23,760 shares of the company’s stock valued at $151,000 after buying an additional 1,210 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.
LivePerson, Inc (Liveperson) is a provider of mobile and online 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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