UPDATE: Citi Starts LivePerson (LPSN) at Buy
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Citi analyst Drew Foster initiates coverage on LivePerson (NASDAQ: LPSN) with a Buy rating and a price target of $76.00.
The analyst comments "LivePerson is several years into a strategy shift that acknowledges asynchronous & omnichannel messaging as the driving forces behind customer interactions in the future, where Conversational Commerce is a likely corollary. After a painful migration process in 2016-17, LivePerson is three years into a top-line acceleration that appears sustainable. Quota-carrying headcount is projected to grow by +38% this year, and with new partnerships also adding to aggregate capacity, all indications suggest that LPSN’s 6x EV/2022 Sales multiple deserves more credit for >25% durable topline growth. We initiate with a Buy/High Risk rating and $76 price target."
Shares of LivePerson closed at $50.53 yesterday.
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