LivePerson Shares Will Likely Be Range-Bound Pending Sales Representative Productivity Boost, Analyst Says

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  • Mizuho analyst Siti Panigrahi maintained LivePerson, Inc 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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