LPSN - Why LivePerson Stock Was Up on Tuesday
LivePerson (NASDAQ: LPSN) investors had a great morning on Tuesday. The cloud software specialist's stock had jumped 17% by 12:30 p.m. ET, compared to a 1.2% spike in the S&P 500 . That surge just erased a small portion of recent losses for the stock, though, which remains down by over 60% so far in 2022.
It was powered by a well-received earnings report.
LivePerson said sales of its artificial intelligence (AI) communications platform rose 10% in the selling period that ended in late September, easily beating management's early August forecast . The software-as-a-service specialist made progress at building up its client base, expanding the size of its renewed contracts, and adding value to the platform. Average annual contract size rose 18% to $675,000.
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Why LivePerson Stock Was Up on Tuesday