LivePerson (LPSN) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of LivePerson (NASDAQ:LPSN) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

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. “

Several other equities analysts also recently commented on LPSN. Needham & Company LLC reiterated a buy rating and issued a $16.00 target price on shares of LivePerson in a research report on Wednesday, November 1st. B. Riley initiated coverage on LivePerson in a research report on Thursday, December 14th. They issued a buy rating and a $16.50 target price for the company. Oppenheimer reiterated a hold rating on shares of LivePerson in a research report on Friday, January 26th. Finally, BidaskClub upgraded LivePerson from a hold rating to a buy rating in a research report on Saturday, February 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. LivePerson presently has an average rating of Buy and a consensus price target of $15.23.

LivePerson (NASDAQ:LPSN) traded up $0.20 during trading on Thursday, reaching $14.55. The company’s stock had a trading volume of 504,000 shares, compared to its average volume of 430,864. LivePerson has a 1 year low of $6.47 and a 1 year high of $15.10.

In other news, CFO Daniel Richard Murphy sold 2,493 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $11.45, for a total transaction of $28,544.85. Following the completion of the transaction, the chief financial officer now directly owns 82,185 shares in the company, valued at $941,018.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Locascio sold 2,779 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $11.45, for a total value of $31,819.55. Following the transaction, the chief executive officer now owns 73,656 shares of the company’s stock, valued at $843,361.20. The disclosure for this sale can be found here. Insiders have sold 7,440 shares of company stock valued at $85,188 over the last 90 days. 11.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of LPSN. Piedmont Investment Advisors LLC bought a new position in shares of LivePerson during the second quarter worth about $128,000. Ellington Management Group LLC bought a new stake in LivePerson in the fourth quarter worth approximately $146,000. Miles Capital Inc. bought a new stake in LivePerson in the fourth quarter worth approximately $169,000. Public Employees Retirement System of Ohio bought a new stake in LivePerson in the third quarter worth approximately $177,000. Finally, Advisor Group Inc. bought a new stake in LivePerson in the third quarter worth approximately $189,000. Institutional investors own 75.76% of the company’s stock.

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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.

Analyst Recommendations for LivePerson (NASDAQ:LPSN)

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