LivePerson, Inc. (NASDAQ:LPSN)
LivePerson, Inc. (NASDAQ:LPSN) shares were up 18% on the back of 2nd quarter financial results that saw actual revenues beat guidance. Trading was heavy – over 2.4 million LPSN shares traded hands. Total revenue for Q2 2017 was $54.1 million, compared to the previously issued guidance range of $51 – $52 million. The market reacted favorably to updated revenue guidance for full-year 2017. The company now expects $213 – $216 million as compared to previously issued guidance of $204 – $209 million.
LivePerson, Inc. (NASDAQ:LPSN) provides cloud-based mobile and online business messaging solutions between brands and consumers. LiveEngage, LivePerson’s enterprise-class platform, empowers consumers to stop wasting time on hold with 1-800 numbers, and instead message their favorite brands, just as they do with friends and family. More than 18,000 businesses, including Adobe, Citibank, HSBC, EE, IBM, L’Oreal, Orange, PNC and The Home Depot rely on LiveEngage to reduce costs, increase lifetime customer value, and maintain consumer relationships.
CEO Robert LoCascio stated in a press release “In the second quarter of 2017, we executed on our plans to extend the lead of our enterprise conversational platform and to capture a meaningful share of an enormous greenfield market opportunity. We forged a major global partnership with IBM, added Apple Business Chat to our ecosystem of messaging front ends, and signed several leading financial institutions for messaging, complementing the recent strength we have been seeing in telecommunications. With revenue building sequentially, and LivePerson’s platform transition ending in the third quarter, we are on target to return to growth in 2018.”
LivePerson, Inc. (NASDAQ:LPSN) shareholders have been well compensated for their stock ownership. YTD LPSN shares are up over 78%, and are up over 70% for the year. Prior to today’s close at $13.50, the previous 52-week high was $12. The $13.50 closing price also bested the $13.20 consensus price target listed by stock analysts.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.