LivePerson price target lowered to $1 from $3 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on LivePerson to $1 from $3 and keeps a Buy rating on the shares. The reported quarter came in ahead and the annual guide was reiterated, the firm notes. New CEO John Sabino is aggressively swapping out leadership, changing GTM, meeting with customers and driving a much more aggressive partnering strategy. Progress here has been solid, adds Craig-Hallum, which points out that “front and center is the debt situation.” The firm suspects multi-pronged efforts are nearing completion and there will be an update.