LivePerson, Inc. (LPSN) Issues Quarterly Earnings Results, Hits Expectations
LivePerson, Inc. (NASDAQ:LPSN) released its quarterly earnings results on Wednesday. The technology company reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05, Bloomberg Earnings reports. The business had revenue of $54.49 million during the quarter, compared to the consensus estimate of $54.55 million. LivePerson had a negative return on equity of 8.71% and a negative net margin of 13.29%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. LivePerson updated its FY17 guidance to $0.07-0.08 EPS.
Several research firms recently issued reports on LPSN. Benchmark Co. boosted their price target on LivePerson from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $17.50 price target (up from $15.00) on shares of LivePerson in a research note on Tuesday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of LivePerson in a research note on Wednesday. Northland Securities restated a “buy” rating and issued a $15.00 price target on shares of LivePerson in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded LivePerson from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.92.
In other news, Director David Vaskevitch sold 50,000 shares of LivePerson stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $13.05, for a total value of $652,500.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $456,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel Richard Murphy sold 2,300 shares of LivePerson stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $13.71, for a total value of $31,533.00. Following the completion of the transaction, the chief financial officer now owns 84,678 shares of the company’s stock, valued at $1,160,935.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,374 shares of company stock valued at $796,159. 11.40% of the stock is owned by company insiders.
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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