LivePerson Surges Most in 17 Months Amid Surprising Sales
LivePerson Inc. (LPSN), a maker of software that allows businesses to track people on their websites, rallied the most in 17 months in New York and Tel Aviv after reporting sales that beat analysts’ estimates.
Shares of LivePerson rose 12 percent to $10.34 at 12:19 p.m. in New York, the biggest jump since February 2012. Trading volume was almost twice the average over the past three months. The rally trimmed this year’s drop to 21 percent. The stock added 10 percent to 37.77 shekels, or $10.60, in Tel Aviv.
Sales at the New York-based company that has operations in Israel rose 12 percent in the second quarter to $43.2 million, LivePerson said in a statement after the market closed yesterday. That beat the average estimate of 12 analysts surveyed by Bloomberg of $42.9 million. Bookings, a measure of future revenue, were $7.1 million in the last quarter, compared to $6.9 million the year-ago period, while the company signed 139 deals and added two enterprise customers in Japan, it said.
“That was encouraging,” Nathan Schneiderman, an analyst at Roth Capital Partners LLC, in Newport Beach, California, who rates the shares buy, said in a telephone interview. “The business looks like it’s going to improve. International seems to be growing in momentum. Partnering is taking off.”
LivePerson tumbled 36 percent in New York on May 9, the most in almost 12 years, as it cut the forecast for 2013 sales after the loss of a major client.
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