LivePerson price target lowered to $4 from $11 at Barclays

Barclays analyst Ryan MacWilliams lowered the firm’s price target on LivePerson to $4 from $11 and keeps an Underweight rating on the shares. The analyst believes investors left LivePerson’s Q4 earnings call disappointed that the size of the core business is smaller than anticipated. In addition, the company guided core business growth slower than investors would have liked, the analyst tells investors in a research note. Management changes to dives certain businesses mark steps that likely should have been taken over the last few years, but reflect a new reality regarding present end-market growth, contends the firm.