- 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.
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