LPSN - LivePerson rallies after Q4 revenue acceleration prompts JPMorgan upgrade

Seeing a valuation opportunity after the recent pullback and the revenue acceleration displayed in yesterday's earnings report, J.P. Morgan upgrades LivePerson (LPSN) from Neutral to Overweight and raises the price target from $65 to $79.Analyst Sterling Auty: "Over the last quarter we have spent a lot of time talking to customers and have come to better appreciate the technology platform that LivePerson offers."Positives in the Q4 report included the 29% revenue growth on strong demand, 26% full-year sales growth that beat LPSN's long-term target a year ahead of schedule, and an all-time high for seven-figure deals.But Auty highlights the steady decline of gross margins over the past three years as "our biggest area of concern."LivePerson shares are up 10.8% pre-market to $64.47.Deeper dive: LivePerson Q4 earnings call transcript.

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LivePerson rallies after Q4 revenue acceleration prompts JPMorgan upgrade