Wunderlich Securities Reiterates Buy Rating, $24 PT on LivePerson
In a report published Wednesday, Wunderlich Securities reiterated its Buy rating and $24.00 price target on LivePerson (NASDAQ: LPSN).
Wunderlich Securities noted, “LivePerson, Inc. (LPSN) released mixed results after the close yesterday, with record revenues and impressive bookings muted by slowing implementations of new deals that is weighing on near-term revenues. EPS of $0.08 beat our $0.07 forecast and was at the mid-point of guidance to leave its earnings engine intact and our 4Q12 EPS forecast unchanged. As we believe implementation experience should over time improve deployment pacing, we would aggressively defend shares were they to weaken meaningfully on its dampened near-term revenues. We reiterate our Buy rating and have left our price target unchanged at $24.00.”
LivePerson closed on Tuesday at $14.68.
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