NEW YORK (TheStreet) -- Shares of LivePerson Inc (LPSN) are sinking, sharply down 12.26% to $8.30 on heavy volume in late morning trading Tuesday, after analysts at Credit Suisse downgraded the company to a "neutral" from an "outperform" rating earlier today.
The firm set a price target of $8, after management cut its 2015 revenue guidance by $21 million.
The customer-service technology company now sees lower revenue due to the loss of AT&T (T) as a pay-for-performance chat customer.
About 1.7 million shares of LivePerson have exchanged hands as of 11:06 a.m. ET today, compared to its average trading volume of about 313,694 shares a day.
New York City-based LivePerson provides online engagement solutions that facilitate real-time assistance and expert advice.
Separately, TheStreet Ratings team rates LIVEPERSON INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIVEPERSON INC (LPSN) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow and feeble growth in its earnings per share."
You can view the full analysis from the report here: LPSN Ratings Report