LivePerson cut to Neutral at Roth MKM after ‘weak’ Q4 results and guidance

As previously reported, Roth MKM downgraded LivePerson to Neutral from Buy with a price target of $6, down from $25. The company’s Q4 results were weak and its 2023 guidance is driving another cut in the firm’s outlook after it dramatically cut in mid-2022, the analyst tells investors in a research note. Roth MKM adds that LivePerson’s $230M convertible debt tranche due in under one year, and $517.5M due in 2026, gives little confidence that the company’s cash generation can satisfy its needs.