LivePerson (NASDAQ:LPSN) Earns “Buy” Rating from Benchmark

LivePerson (NASDAQ:LPSN)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a research report issued to clients and investors on Wednesday, Briefing.com Automated Import reports. They presently have a $40.00 target price on the technology company’s stock, up from their prior target price of $34.00. Benchmark’s price objective would suggest a potential upside of 20.52% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. KeyCorp started coverage on shares of LivePerson in a report on Thursday, July 11th. They set an “overweight” rating and a $36.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $35.00 target price (up previously from $30.00) on shares of LivePerson in a report on Friday, May 3rd. Berenberg Bank started coverage on shares of LivePerson in a report on Thursday, May 16th. They issued a “buy” rating and a $40.00 target price on the stock. Zacks Investment Research raised shares of LivePerson from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Tuesday. Finally, BidaskClub raised shares of LivePerson from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Sixteen analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $33.00.

NASDAQ:LPSN traded up $0.60 during trading hours on Wednesday, hitting $33.19. 1,450,148 shares of the stock traded hands, compared to its average volume of 626,156. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.96. LivePerson has a 1 year low of $16.98 and a 1 year high of $33.44. The stock has a market capitalization of $2.13 billion, a P/E ratio of -144.30 and a beta of 1.08. The firm has a 50 day moving average of $29.55.

LivePerson (NASDAQ:LPSN) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). LivePerson had a negative net margin of 15.78% and a negative return on equity of 13.56%. The firm had revenue of $66.40 million for the quarter, compared to analysts’ expectations of $66.14 million. As a group, research analysts forecast that LivePerson will post -0.52 earnings per share for the current year.

In related news, EVP Monica L. Greenberg sold 23,601 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $27.29, for a total value of $644,071.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Daryl Carlough sold 16,164 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $27.71, for a total transaction of $447,904.44. The disclosure for this sale can be found here. Insiders sold 45,266 shares of company stock worth $1,242,075 in the last 90 days. 9.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in LPSN. Artisan Partners Limited Partnership increased its position in LivePerson by 87.0% in the first quarter. Artisan Partners Limited Partnership now owns 1,464,855 shares of the technology company’s stock worth $42,510,000 after purchasing an additional 681,616 shares during the last quarter. Granite Investment Partners LLC bought a new position in LivePerson during the first quarter valued at $13,648,000. Millennium Management LLC increased its position in LivePerson by 576.4% during the fourth quarter. Millennium Management LLC now owns 518,954 shares of the technology company’s stock valued at $9,787,000 after acquiring an additional 442,231 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in LivePerson by 10.7% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 3,381,722 shares of the technology company’s stock valued at $98,138,000 after acquiring an additional 327,580 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in LivePerson during the fourth quarter valued at $4,515,000. Institutional investors own 83.66% of the company’s stock.

About LivePerson

LivePerson, Inc provides conversational commerce solutions. The company operates in two segments, Business and Consumer. The Business segment enables brands to leverage LiveEngage's intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.

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Analyst Recommendations for LivePerson (NASDAQ:LPSN)

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