LivePerson (LPSN) Sees EBITDA Break Even 1Q Ahead of Expectations - Roth Capital

Roth Capital analyst Richard Baldry reiterated a Buy rating and $53.00 price target on LivePerson (NASDAQ: LPSN) after 1Q20 revenues of $78.1M expectations of $77.7M forecast and grew 17.6% yr/yr, This represents the fastest 1Q growth rate since 1Q15 and was down only $1M from 4Q19's $79.1M record. The company guided 2020 revenues to $340-355M, down from $350-355M prior but is now guiding for positive 2Q20 adjusted EBITDA, a quarter ahead of expectations.

The analyst stated "While LPSN guided for a material loss on faster spending to support the development of a new embedded payments platform, an initiative to lower overall costs (unrelated to COVID, although travel costs were also cut) led to the much narrower loss than anticipated (roughly $3M better)".

For an analyst ratings summary and ratings history on LivePerson click here. For more ratings news on LivePerson click here.

Shares of LivePerson closed at $28.53 yesterday.

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