LPSN - LivePerson cut to Hold at Needham as guidance disappoints

LivePerson (NASDAQ:LPSN) shares have plummeted 36.94% pre-market after the tech firm reported its Q4 financial results Thursday (Feb 24, 2022).   Q4 revenue grew 21% Y/Y to $123.8M, and was within the upper half of the company's guidance range. The company signed seven seven-figure deals and 107 deals in the quarter, comprising 27 new and 80 existing customer contracts. Business operations revenue and consumer operations revenue each grew 21% Y/Y to $114.1M and $9.8M, respectively. However, LivePerson incurred losses, with Q4 adjusted operating loss totaling $11.4M, vs. $12.6M income in Q420. Adjusted EBITDA for the quarter was -$4.4M as compared to $18.2M in the prior year quarter. Following the results, Needham downgraded LivePerson to a Hold rating, citing a FY22 revenue outlook weighed down by growth headwinds related to the company's gainshare and Bella Health offerings. Needham analyst Ryan MacDonald said: "Investors are likely to come away frustrated by the poor outlook

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LivePerson cut to Hold at Needham as guidance disappoints