Berenberg Bank initiated coverage on shares of LivePerson (NASDAQ:LPSN) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $40.00 price target on the technology company’s stock.
Several other research firms have also commented on LPSN. Barclays started coverage on LivePerson in a report on Friday, March 8th. They set an overweight rating and a $27.45 price target on the stock. CIBC upgraded shares of LivePerson from a market perform rating to an outperform rating and set a $31.00 price objective on the stock in a report on Thursday, January 24th. BidaskClub lowered shares of LivePerson from a strong-buy rating to a buy rating in a report on Wednesday, March 6th. Zacks Investment Research lowered shares of LivePerson from a hold rating to a sell rating in a research note on Friday, February 1st. Finally, Needham & Company LLC reiterated a buy rating and set a $35.00 price target (up from $30.00) on shares of LivePerson in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $31.43.
LPSN traded down $0.52 on Thursday, hitting $29.88. 19,740 shares of the company’s stock were exchanged, compared to its average volume of 660,469. LivePerson has a fifty-two week low of $16.98 and a fifty-two week high of $30.50. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.96. The stock has a market cap of $1.86 billion, a PE ratio of -129.76 and a beta of 1.15.
In related news, CFO Christopher E. Greiner sold 5,033 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $29.66, for a total value of $149,278.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander Spinelli sold 15,080 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $27.30, for a total value of $411,684.00. The disclosure for this sale can be found here. Insiders sold 25,563 shares of company stock valued at $717,974 over the last ninety days. 11.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in LivePerson by 26.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,866 shares of the technology company’s stock valued at $92,000 after buying an additional 1,029 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of LivePerson by 818.5% during the fourth quarter. Meeder Asset Management Inc. now owns 5,263 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,690 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of LivePerson during the first quarter worth approximately $235,000. Virtu Financial LLC purchased a new stake in shares of LivePerson during the first quarter worth approximately $236,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of LivePerson during the first quarter worth approximately $242,000. 79.33% of the stock is owned by hedge funds and other institutional investors.
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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