LivePerson (LPSN) PT Raised to $35 at Oppenheimer Post Investor Day

Oppenheimer analyst Koji Ikeda raised the price target on LivePerson (NASDAQ: LPSN) to $35.00 (from $33.00) while maintaining a Outperform rating.

The analyst commented, "Yesterday, LivePerson management gave an upbeat set of presentations at its first investor day in seven years, held in NYC. We found management's updates on: 1) the conversational commerce opportunity; 2) the product portfolio and roadmap; 3) enterprise and midmarket go-to-market strategies; 4) AI-bot driven consumer engagement adoption; and 5) pipeline momentum, as positives. Bottom line: We believe LivePerson is well positioned with its LiveEngage messaging platform to capitalize on the future shift of consumer engagement to messaging channels. We think there are multiple growth levers for the business to pull to drive a potential rare SaaS industry accelerating growth profile, which should catalyze a re-rating of its valuation multiples higher to coincide with its improving growth profile."

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