Published on 16 Nov 2022 on Benzinga via Yahoo Finance
LivePerson Shares Will Likely Be Range-Bound Pending Sales Representative Productivity Boost,...
Mizuho analyst Siti Panigrahi maintained LivePerson, Inc (NASDAQ: LPSN) with a Neutral and cut the price target from $14 to $12.LPSN exceeded its lowered expectation in Q3 and raised FY22 revenue growth guidance to 10.5% Y/ Y growth (at the midpoint), above consensus of 9.8% Y/Y, but maintained EBITDA margin guidance of 0.0-2.0%.LPSN signed seven 7-figure deals in Q3 vs. five 7-figure deals in Q2.Management continues working to optimize profitable growth with its focus on efficient new logo acquisitions, expansion in the existing base, and new strategic partnerships.Despite the increased full-year guide for top-line growth, revenue growth has significantly decelerated to 11% in 2022 from 28% in 2021.He believes shares will remain range-bound in the near term due to a lack of tailwinds and revenue growth deceleration in its core messaging business coupled with increasing competition until the sales representatives' productivity accelerates growth.Price Action: LPSN shares traded lower by 5.71% at $12.05 on the last check Wednesday.Photo Via Company
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