Zacks Investment Research Lowers LivePerson, Inc. (LPSN) to Hold

LivePerson, Inc. (NASDAQ:LPSN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 equities research analysts also recently issued reports on LPSN. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of LivePerson in a research report on Wednesday. Northland Securities set a $14.00 target price on LivePerson and gave the stock a “buy” rating in a research report on Saturday, June 24th. Benchmark Co. increased their target price on LivePerson from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 15th. TheStreet upgraded LivePerson from a “d+” rating to a “c” rating in a research report on Friday, May 26th. Finally, Craig Hallum upgraded LivePerson from a “hold” rating to a “buy” rating and increased their target price for the stock from $8.60 to $8.85 in a research report on Thursday, May 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $12.14.

LivePerson (NASDAQ:LPSN) opened at 12.80 on Thursday. The company’s market cap is $753.92 million. The firm’s 50-day moving average price is $12.03 and its 200-day moving average price is $9.03. LivePerson has a 1-year low of $5.43 and a 1-year high of $14.05.

LivePerson (NASDAQ:LPSN) last posted its earnings results on Wednesday, July 26th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.01. The company had revenue of $54.10 million for the quarter, compared to analysts’ expectations of $51.33 million. LivePerson had a negative return on equity of 8.71% and a negative net margin of 13.29%. The company’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Equities research analysts forecast that LivePerson will post $0.10 EPS for the current fiscal year.

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In other news, Director David Vaskevitch sold 37,135 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $11.40, for a total value of $423,339.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $228,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Dustin Dean sold 2,400 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $11.73, for a total transaction of $28,152.00. Following the completion of the transaction, the executive vice president now directly owns 70,987 shares in the company, valued at approximately $832,677.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,475 shares of company stock worth $1,721,430. Insiders own 11.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPSN. Eqis Capital Management Inc. boosted its position in LivePerson by 1.7% in the first quarter. Eqis Capital Management Inc. now owns 14,715 shares of the technology company’s stock valued at $101,000 after buying an additional 243 shares during the last quarter. Two Sigma Securities LLC purchased a new position in LivePerson during the first quarter valued at $102,000. Acrospire Investment Management LLC boosted its position in LivePerson by 65.5% in the first quarter. Acrospire Investment Management LLC now owns 16,055 shares of the technology company’s stock valued at $110,000 after buying an additional 6,356 shares during the last quarter. State of Alaska Department of Revenue boosted its position in LivePerson by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 10,610 shares of the technology company’s stock valued at $116,000 after buying an additional 4,700 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in LivePerson by 5.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,580 shares of the technology company’s stock valued at $138,000 after buying an additional 650 shares during the last quarter. 74.00% of the stock is currently owned by hedge funds and other 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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