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LivePerson Drops Most Since March on Second-Quarter Outlook

May 3 (Bloomberg) -- LivePerson Inc. slid the most since the shares listed in Tel Aviv in March as the customer-service software maker issued a second-quarter outlook that was below analysts’ estimates and after its recommendation was cut.

The shares tumbled 8.8 percent to 41.58 shekels at the 4:30 p.m. close in Tel Aviv.

Second-quarter revenue will be $31.3 million to $31.8 million and adjusted earnings per share will be 6 cents to 8 cents, the company said yesterday in a PR Newswire statement. Revenue was expected to reach $32 million and earnings 8 cents a share, according to the median estimates of seven analysts on Bloomberg.

Craig-Hallum Capital Group Ltd. lowered its recommendation on the shares to “accumulate” from “buy” with a 12-month price estimate of $14.

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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