LivePerson shares jumped Wednesday, following stock price target hikes from three analysts.
The conversational commerce and AI software company received price target boost ,from B. Riley, to $36 from $31. B. Riley also reiterated its buy rating.
Jefferies raised the price target to $33 from $27, and also reaffirmed its buy rating. Jefferies analyst Samad Samana mentioned that LivePerson’s major first-quarter increase in messaging volume as the coronavirus pandemic began to spread underscores the value proposition of messaging vs. phone calls.
Mizuho hiked the price target to $40 from $30, reiterating its buy rating too.
LivePerson signed 130 deals in the first quarter,which reflects a year-over-year increase of+ 10%. The figure includes 56 new and 74 existing customer contracts. LivePerson’s revenue was +18% higher in the quarter from a year ago.