LivePerson (LPSN) PT Trimmed at Northland Capital Markets Despite 'Clean' Qtr

Northland Capital Markets analyst Michael Latimore cut his price target on Outperform-rated LivePerson (NASDAQ: LPSN) to $14.00 (from $16.50) despite what he called the company "cleanest quarter" in a long time.

Latimore commented, "Reiterating Outperform rating after LivePerson reported its cleanest quarter in a long time. We believe visibility into improved growth rates has increased. We lowered target to $14 on SaaS multiple compression. No est change. 1Q rev of $47.8 mil and $0.05, in line with consensus. Guided 2Q revs above Street, and reiterated year. Bookings increased 20% and implementation timeframes are normal to declining. LiveEngage 2.0 should be available to the enterprise market in 3Q."

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 $9.29 yesterday.

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