LivePerson (NASDAQ:LPSN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of LivePerson (NASDAQ:LPSN) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

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 reports. Jefferies Financial Group increased their price target on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the company a buy rating in a research report on Monday, April 1st. Piper Jaffray Companies increased their price target on shares of Apple to $201.00 and gave the company an overweight rating in a research report on Monday, March 25th. Benchmark reiterated a buy rating and set a $120.00 price target (up from $115.00) on shares of Nexstar Media Group in a research report on Thursday, March 21st. BidaskClub cut shares of Amyris from a hold rating to a sell rating in a research report on Thursday, June 27th. Finally, Berenberg Bank set a €54.00 ($62.79) price target on shares of 1&1 Drillisch and gave the company a buy rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $32.00.

LPSN traded up $0.14 on Wednesday, reaching $29.49. The company had a trading volume of 859,800 shares, compared to its average volume of 631,913. The business has a 50 day moving average of $27.97. The stock has a market capitalization of $1.89 billion, a P/E ratio of -128.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.75 and a current ratio of 2.75. LivePerson has a 52-week low of $16.98 and a 52-week high of $30.91.

LivePerson (NASDAQ:LPSN) last announced its earnings results on Thursday, May 2nd. The technology company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The company had revenue of $66.40 million during the quarter, compared to analysts’ expectations of $66.14 million. LivePerson had a negative net margin of 15.78% and a negative return on equity of 13.56%. On average, equities analysts expect that LivePerson will post -0.52 EPS for the current fiscal year.

In other news, CFO Christopher E. Greiner sold 5,033 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $29.66, for a total value of $149,278.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Monica L. Greenberg sold 4,352 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $27.08, for a total transaction of $117,852.16. The disclosure for this sale can be found here. Insiders sold 50,611 shares of company stock worth $1,400,179 in the last 90 days. Company insiders own 9.70% of the company’s stock.

Several institutional investors have recently modified their holdings of LPSN. Artisan Partners Limited Partnership grew its holdings in shares of 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 shares of LivePerson in the first quarter worth approximately $13,648,000. Millennium Management LLC grew its holdings in shares of LivePerson by 576.4% in the fourth quarter. Millennium Management LLC now owns 518,954 shares of the technology company’s stock worth $9,787,000 after purchasing an additional 442,231 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of LivePerson by 10.7% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 3,381,722 shares of the technology company’s stock worth $98,138,000 after purchasing an additional 327,580 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of LivePerson in the fourth quarter worth approximately $4,515,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.

LivePerson Company Profile

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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