Needham & Company Reiterates Buy Rating on LivePerson (LPSN) Following NDR

Needham & Company analyst Ryan MacDonald reiterated a Buy rating and $60.00 price target on LivePerson (NASDAQ: LPSN) following a recent NDR with management. It is clear that CFO John Collins has implemented his data-driven approach across all aspects of the business since joining LPSN and it is this approach that gives Needham & Company increased confidence in the improving trajectory of the business.

In 1H20, management reallocated GTM resources towards the company's existing base to ensure customers received the support they needed during the volatile early stages of the pandemic. LPSN is adamant that the pandemic-driven increases in usage are sustainable and indicative of a structural shift in the market, which has the potential to benefit growth in the near-term via gain share revenue, in the mid-term via usage driven up-sells, and longer-term via expansion into new verticals and use cases.

For an analyst ratings summary and ratings history on LivePerson click here. For more ratings news on LivePerson click here.

Shares of LivePerson closed at $50.19 yesterday.

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