LivePerson price target lowered to $8 from $12 at Loop Capital

Loop Capital analyst Mark Schappel lowered the firm’s price target on LivePerson to $8 from $12 and keeps a Hold rating on the shares after its worse than expected Q4 results and guidance. The bulk of the company’s Q4 shortfall and lowered outlook were due to the WildHealth Medicare reimbursement matter, discontinuing/disposing of non-core revenues, and paying employee bonus in cash rather than stock, though the stock is likely to be range-bound between $7 and $10 until LivePerson is able to execute better and demonstrate consistent profitability, the analyst tells investors in a research note.