In a report released today, Zach Cummins from B.Riley FBR reiterated a Buy rating on Liveperson (LPSN), with a price target of $35.50. The company’s shares closed yesterday at $32.75, close to its 52-week high of $32.95.
Cummins wrote:
“LivePerson, Inc. (LPSN) reports 2Q19 results after the market close on Wednesday, July 31. The company will host its earnings conference call at 5:00pm ET (Dial in: Passcode: 1199473). We anticipate a solid 2Q print. Similar to prior quarters, we expect revenues will at least meet expectations with the potential for upside to the Street’s estimate and management’s guidance. We expect adjusted EBITDA will be within management’s guidance, which accounts for expected ramp in sales headcount during the quarter. Street’s adjusted EBITDA estimate are near the midpoint of management’s guidance. Turning to the forward outlook, we anticipate management’s 3Q revenue guidance will meet and could potentially exceed expectations, but we are more cautious around 3Q adjusted EBITDA guidance.”
According to TipRanks.com, Cummins has 0 stars on 0-5 star ranking scale with an average return of -10.5% and a 36.7% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, American Software, and ChannelAdvisor.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Liveperson with a $35.94 average price target, which is a 9.7% upside from current levels. In a report issued on July 12, KeyBanc also initiated coverage with a Buy rating on the stock with a $36 price target.
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Based on Liveperson’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.89 million. In comparison, last year the company had a GAAP net loss of $8.32 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. Last month, Daryl Carlough, the SVP, Global & Corp Controller of LPSN sold 16,164 shares for a total of $447,863.
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LivePerson, Inc. engages in the provision of mobile and online messaging solutions. It operates through Business and Consumer segments. The Business segment enables brands to leverage intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.
