LivePerson’s (LPSN) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of LivePerson, Inc. (NASDAQ:LPSN) in a research report released on Wednesday morning. The brokerage currently has a $16.00 target price on the technology company’s stock.

Several other brokerages have also recently commented on LPSN. Benchmark Co. boosted their target price on shares of LivePerson from $14.00 to $18.00 and gave the company a buy rating in a research report on Tuesday, October 10th. Ladenburg Thalmann Financial Services restated a buy rating and issued a $17.50 target price (up from $15.00) on shares of LivePerson in a research report on Tuesday, October 10th. Northland Securities restated a buy rating and issued a $15.00 target price on shares of LivePerson in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of LivePerson from a hold rating to a buy rating and set a $15.00 target price for the company in a research report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of LivePerson in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $13.92.

LivePerson (NASDAQ:LPSN) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $54.49 million during the quarter, compared to analysts’ expectations of $54.55 million. LivePerson had a negative net margin of 13.29% and a negative return on equity of 8.71%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) EPS.

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In related news, CFO Daniel Richard Murphy sold 2,300 shares of LivePerson stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $13.71, for a total transaction of $31,533.00. Following the sale, the chief financial officer now directly owns 84,678 shares of the company’s stock, valued at approximately $1,160,935.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Vaskevitch sold 50,000 shares of LivePerson stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $13.05, for a total transaction of $652,500.00. Following the sale, the director now directly owns 35,000 shares in the company, valued at $456,750. The disclosure for this sale can be found here. Insiders have sold a total of 60,374 shares of company stock worth $796,159 over the last ninety days. 11.40% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in LPSN. Bank of New York Mellon Corp grew its holdings in shares of LivePerson by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 711,533 shares of the technology company’s stock valued at $4,874,000 after purchasing an additional 21,592 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of LivePerson by 6.2% during the 1st quarter. Ameriprise Financial Inc. now owns 283,722 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 16,555 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of LivePerson by 0.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 153,771 shares of the technology company’s stock valued at $1,053,000 after purchasing an additional 1,214 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of LivePerson by 2.9% during the 1st quarter. JPMorgan Chase & Co. now owns 275,860 shares of the technology company’s stock valued at $1,889,000 after purchasing an additional 7,731 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of LivePerson during the 1st quarter valued at approximately $187,000. 74.83% 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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