Ladenburg Reiterates a Buy Rating on Liveperson

By Carrie Williams

Ladenburg analyst Glenn G Mattson reiterated a Buy rating on Liveperson (NASDAQ: LPSN) on June 4 and set a price target of $24. The company’s shares closed yesterday at $21.75, close to its 52-week high of $21.89.

G Mattson noted:

“We are gaining confidence in the company’s positioning in the large technology shift to messaging. Management reiterated their belief that messaging is the 3rd major wave in technology and is a natural progression from search and social networking. The opportunity is extremely large, at 270 billion 1-800 calls annually (at a company estimated cost of $6 per call) this is over $1 trillion in annual spend. LPSN has built a platform called LiveEngage that allows companies to change the dynamic for interacting with their customers. Management reiterated their belief that they are at least 12-18 months ahead of the competition.”

According to TipRanks.com, Mattson is a 3-star analyst with an average return of 5.3% and a 51.9% success rate. Mattson covers the Technology sector, focusing on stocks such as Progress Software Corp, Brightcove Inc, and Digimarc Corp.

Liveperson has an analyst consensus of Strong Buy, with a price target consensus of $20.33.

See today’s analyst top recommended stocks >>

The company has a one-year high of $21.89 and a one-year low of $10.70. Currently, Liveperson has an average volume of 447.9K.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Daniel Richard Murphy, the CFO of LPSN sold 112,500 shares for a total of $2,194,469.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.