LivePerson still has potential for growth after CEO leaves, says William Blair

William Blair reiterates a Market Perform rating on LivePerson after the company announced that co-founder and CEO Rob LoCascio will leave, effective December 31. LivePerson has struggled to find its next leg of growth over the past few years after seeing a significant pull-forward in demand during the pandemic and has struggled with execution, focus, and executive turnover, but despite the “noisy” story, William Blair still sees potential for an interesting growth business if it’s paired with an executive who can drive focus on the core business and extend product functionality, the analyst tells investors in a research note.