UPDATE: Oppenheimer Initiates Coverage on LivePerson

According to a research report published this morning, Oppenheimer has initiated LivePerson

with an Outperform rating and $21 PT. Oppenheimer commented in the report, "We believe LivePerson will continue to deliver strong organic growth as companies increasingly realize they need a real-time Customer Intelligent Engagement platform to improve unique website visitor conversion rates and customer support. We expect the company to organically grow revenue and earnings at a very healthy 20% to 25% CAGR as adoption of website behavioral targeting technologies expands." LivePerson closed yesterday at $16.62.