LivePerson downgraded to Neutral from Buy at Roth MKM

Roth MKM analyst Richard Baldry downgraded LivePerson to Neutral from Buy with a price target of $2, down from $6. The company’s revenue and adjusted EBITDA results for Q4 missed forecasts but were fair versus its prior lowered outlook, the analyst tells investors in a research note. However, further guidance cuts leaves roughly $100M or 25% of its lowered revenue base missing in 2024, says Roth. The firm “dramatically” cut revenue and EBITDA forecasts, which it says leaves LivePerson’s ability to refinance maturing convertible notes far more at risk than expected.