Why This Analyst Sees 66% Upside In LiveVox?

Stifel analyst Tom Roderick initiated coverage of LiveVox Holdings Inc LVOX with a Buy and $12 price target, implying a 65.7% upside.
With the contact center market in what he sees as "the early stages of a long-term shift to cloud-based solutions," Roderick believes LiveVox has positioned itself to capture share from legacy vendors and address new use-cases.
The stock price of the cloud-based provider of customer service and digital engagement tools has lost 30.7% year-to-date.
Price Action: LVOX shares traded higher by 2.90% at $7.45 in the premarket session on the last check Friday.

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