SA News • Thu, Nov. 6
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- The company managed to beat 2Q consensus on the top and bottom lines.
- Our long-term thesis is still bearish despite the huge move upward of late.
- We didn’t anticipate the latest strength, but still see the competition as a big headwind.
- LivePerson is operating in a highly competitive, commoditized industry. Its direct competitors are bigger, and manage to grow faster.
- The company has shown minimal profitability during 14 years of operations. Lately, due to increased competition, its margins remain under pressure and share price is declining in line with EBITDA.
- It is very hard to argue for any further upside when LivePerson is already trading at 2.7x of 2014 sales and is forecasted to make a loss again in 2014.
LivePerson: From Chat To Data Analytics, Transition Exit Upcoming
- Market is underestimating the potential penetration of installed base with upgraded platform LiveEngage 2.0.
- Market is not fully appreciating LPSN’s large addressable market opportunity in shift from phone to chat.
- Market is overlooking LPSN’s potential in data analytics by assigning a customer service like multiple.
- Our FY14 estimated PT of $16.25 represents potential upside >35%.
LivePerson by the Numbers: Valuation Not Compelling
LivePerson: Profit from Gaining e-Commerce Momentum
Thu, Nov. 6, 11:01 AM
- Along with its Q3 results, LivePerson (NASDAQ:LPSN) has announced it's acquiring Contact At Once (CAO), a top provider of cloud customer support/live chat software for the auto industry. LivePerson is paying $65M ($43M in cash and $22M in stock) + up to $5M in earn-out payments.
- LivePerson notes CAO's customer base includes "over 13,000 dealerships, many auto manufacturers and most major car search and advertising sites," and that it's also "making early inroads into the real estate industry." It also praises CAO's technology for routing/tracking chats from multiple sites, and embedding them within ads and search results.
- CAO is expected to contribute $3M in Q4 revenue, and produce $1.5M in Q4 acquisition-related costs. As a results, revenue guidance of $57M-$58M is above a $54.5M consensus, and EPS guidance of $0.02-$0.04 is below a $0.07 consensus.
- Q3 results, PR
Sun, Oct. 12, 6:47 AM
Thu, Oct. 9, 10:01 AM
- Believing several potential catalysts could boost 2015 growth, Credit Suisse's Michael Nemeroff has upgraded LivePerson (LPSN +4.1%) to Outperform, and hiked his target by $4 to $17.
- Cited catalysts include pent-up demand for LivePerson's LiveEngage 2.0 cloud customer support platform, a large implementation backlog for enterprise clients, new customer signings and ARPU increases for existing clients, and a favorable reaction to a new usage-based pricing model.
Thu, Jul. 31, 12:45 PM
Thu, Jul. 31, 9:11 AM| 4 Comments
Thu, Jul. 31, 8:40 AM
- Shares of LivePerson (NASDAQ:LPSN) zip higher in early trading after the company narrowly tops analyst estimates with its Q2 report.
- The company's outlook on revenue is helping to generate some buying momentum. Guidance for revenue of $204M-$207M in FY14 is above the consensus estimate of $202.7M.
- LPSN +13.7% premarket
Wed, Jul. 30, 5:37 PM
Wed, Jul. 30, 3:58 PM
- Ultimate Software (ULTI +7.4%) beat Q2 estimates on the back of a 26% Y/Y increase in recurring revenue (84% of total revenue). The cloud HR software vendor also disclosed on its CC (transcript) it added three new enterprise clients with 10K or more employees; the largest has 40K.
- Full-year guidance for 23% revenue growth (25% recurring growth) has been reiterated. Q3 guidance for revenue of $127M is roughly in-line with a $127.3M consensus.
- A number of cloud software peers have also rallied. Cloud HR/talent management peers Workday (WDAY +6.5%) and Cornerstone OnDemand (CSOD +5.1%) are among the biggest gainers, but others are also doing quite well. CRM +2.7%. NOW +4.7%. LPSN +5.3%. MKTO +4.1%. CNQR +4.8%. JIVE +3.6%. N +4.2%.
Fri, Jun. 20, 11:00 AM
- The license growth worries that plagued Oracle (ORCL -5.7%) much of last year are back with a vengeance following yesterday's FQ4 miss, in spite of the in-line guidance that followed it.
- Citi has cut shares to Neutral, arguing SaaS (cloud app) strength isn't reflected in earnings. Before the downgrade, the firm noted estimated total license revenue of $4.09B missed its $4.3B estimate.
- But Oracle also has its defenders. BMO (Outperform) asserts Oracle's cloud transition efforts are still going well, and that "new product releases across the board should be a tailwind to growth."
- The firm attributes the FQ4 miss to an apparent "thousand cuts" that include deal slippage, Asia-Pac weakness (an ongoing issue), a shift from up-front license payments to cloud subscriptions, and potential order delays ahead of Oracle's 12c database launch (previous).
- Separately, Oracle has announced it's buying LiveLOOK, a developer of co-browsing/screen sharing tech for Web customer support apps. Terms are undisclosed.
- Oracle, which bought cloud customer support firm RightNow in 2011, plans to integrate LiveLOOK's offerings with its Service Cloud platform. Rival LivePerson (LPSN -0.9%) recently announced a deal to buy co-browsing tech developer Synchronite.
- Prior coverage. CC transcript.
Tue, Apr. 8, 10:06 AM
- ARM (ARMH +1.8%) has been upgraded to Market Perform by Bernstein.
- Yelp (YELP +2.2%) has been upgraded to Buy by SunTrust, and cut to Neutral by UBS. Oppenheimer upgraded shares yesterday.
- FireEye (FEYE +3.5%) has been upgraded to Outperform by Wedbush a day after FBN did the same.
- Vipshop (VIPS +4.1%) has been upgraded to Outperform by Credit Suisse. Goldman upgraded shares last week.
- KLA-Tencor (KLAC -0.7%) has been cut to Sector Perform by Pac Crest.
- ON Semi (ONNN +2.9%) has been upgraded to Buy by MKM.
- Web.com (WWWW +2%) has been upgraded to Buy by Craig-Hallum.
- LivePerson (LPSN -5.1%) has been cut to Hold by Benchmark.
- CACI (CACI +2.1%) has received a two-notch upgrade to Outperform from Raymond James. Shares were hit hard last week by an FY14 warning.
- JinkoSolar (JKS +6.4%) has been started at Overweight by Barclays. The firm calls Jinko a vertically-integrated cost leader, and believes the solar up-cycle is still in its early stages.
- Castlight Health (CSLT +1.3%) has received three bullish ratings and two neutral ones on underwriter coverage day.
Wed, Feb. 12, 5:37 PM
Thu, Jan. 30, 1:16 PM
- Much as consumer Web plays are rising in sympathy with Facebook, enterprise cloud software names are sharply higher after cloud IT service desk software leader ServiceNow (NOW +14.3%) beat Q4 revenue estimates, provided very strong guidance, and reported its deferred revenue/backlog balance rose 59% Y/Y.
- Salesforce (CRM +5.5%), Workday (WDAY +5.4%), NetSuite (N +6.2%), Textura (TXTR +9.8%), Cornerstone OnDemand (CSOD +3.6%), Jive Software (JIVE +3.4%), Ultimate Software (ULTI +3.4%), InContact (SAAS +3.9%), Tangoe (TNGO +3.7%), and LivePerson (LPSN +5.4%) are among the winners.
- Baird has upgraded ServiceNow to Outperform, and several other firms have upped their PTs. Raymond James (Strong Buy) praises ServiceNow's efforts to expand into complementary markets such as HR automation, grow both its packaged and custom app sales, and to keep taking share from on-premise IT service desk vendors such as CA, BMC Software, H-P, and IBM.
- On the CC (transcript), CEO Frank Slootman mentioned ServiceNow's installed base has grown to 2,060 accounts and 400 global 2000 customers. That's up from 1,900 and 360 three months earlier.
- He added 80% of customers are now deploying custom apps, and that 20% of the annual contract value recorded in Q4 involved products other than tradition IT service desk licensing.
Dec. 23, 2013, 9:37 AM
- Micron (MU -3%) has been cut to Underperform by BofA/Merrill. Shares fell last week in response to a Bloomberg report stating SK Hynix plans to build a new DRAM fab.
- BlackBerry (BBRY -2.4%) has been cut to Sell by Hudson Square Research in the wake of announcing its FQ3 results and the Foxconn deal. Shares are giving back a fraction of Friday's big post-earnings gains.
- Xilinx (XLNX +0.6%) has been upgraded to Buy by Drexel Hamilton.
- LivePerson (LPSN +4.2%) has been upgraded to Buy by Benchmark.
- Skullcandy (SKUL +5.6%) has been upgraded to Buy by Roth.
Nov. 7, 2013, 1:04 PM
Nov. 7, 2013, 9:14 AM| Comment!
Nov. 6, 2013, 5:40 PM
LPSN vs. ETF Alternatives
LivePerson Inc along with its subsidiaries provides digital engagement solutions offering a cloud-based platform which enables businesses to proactively connect with consumers through chat, voice, and content delivery.
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