LivePerson, Inc. (LPSN) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of LivePerson, Inc. (NASDAQ:LPSN) from a hold rating to a buy rating in a research note issued to investors on Saturday morning. They currently have $13.00 target price on the technology company’s stock.

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. “

A number of other research firms have also recently issued reports on LPSN. Oppenheimer Holdings, Inc. reissued a hold rating on shares of LivePerson in a research report on Thursday, May 11th. Craig Hallum raised shares of LivePerson from a hold rating to a buy rating and increased their price objective for the stock from $8.60 to $8.85 in a research report on Thursday, May 11th. Benchmark Co. increased their price objective on shares of LivePerson from $10.00 to $13.00 and gave the stock a buy rating in a research report on Friday, May 12th. Finally, TheStreet raised shares of LivePerson from a d+ rating to a c rating in a research report on Friday, May 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $10.46.

LivePerson (LPSN) opened at 11.35 on Friday. The company’s market capitalization is $663.34 million. The firm’s 50-day moving average price is $9.60 and its 200 day moving average price is $7.86. LivePerson has a 12-month low of $5.43 and a 12-month high of $11.80.

LivePerson (NASDAQ:LPSN) last issued its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.01. The business had revenue of $50.90 million for the quarter, compared to analysts’ expectations of $50.42 million. LivePerson had a negative net margin of 13.24% and a negative return on equity of 9.65%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, analysts expect that LivePerson will post $0.09 earnings per share for the current year.

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In other news, EVP Dustin Dean sold 47,292 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $9.83, for a total transaction of $464,880.36. Following the transaction, the executive vice president now owns 8,700 shares of the company’s stock, valued at approximately $85,521. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 55,717 shares of company stock worth $520,907 in the last three months. Insiders own 11.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. RGM Capital LLC boosted its position in LivePerson by 4.6% in the first quarter. RGM Capital LLC now owns 4,926,756 shares of the technology company’s stock worth $33,748,000 after buying an additional 216,054 shares during the period. Vanguard Group Inc. boosted its position in LivePerson by 5.8% in the first quarter. Vanguard Group Inc. now owns 4,726,285 shares of the technology company’s stock worth $32,374,000 after buying an additional 257,516 shares during the period. Renaissance Technologies LLC boosted its position in LivePerson by 3.0% in the first quarter. Renaissance Technologies LLC now owns 1,769,800 shares of the technology company’s stock worth $12,123,000 after buying an additional 51,700 shares during the period. Arrowpoint Asset Management LLC boosted its position in LivePerson by 25.5% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,183,843 shares of the technology company’s stock worth $8,938,000 after buying an additional 240,808 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in LivePerson by 136.6% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,174,111 shares of the technology company’s stock worth $8,043,000 after buying an additional 677,792 shares during the period. 76.91% of the stock is currently owned by institutional investors.

About LivePerson

LivePerson, Inc (Liveperson) is a provider of mobile and online business 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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