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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of online auctioneer Liquidity Services (Nasdaq: LQDT ) jumped 11% Thursday after its quarterly results and guidance breezed past Wall Street expectations.
So what: Liquidity Services' wide second-quarter earnings beat -- adjusted EPS of $0.52 versus the consensus of just $0.37 -- confirms investor confidence in the strong tailwinds working in the company's favor. In fact, gross merchandise volume spiked an impressive 59% in the quarter, giving analysts plenty of good vibes about its growth prospects going forward.
Now what: Management now sees third-quarter adjusted EPS of $0.43-$0.46, also well above Wall Street's view of $0.39. "By continuing to invest in growing our e-commerce business we intend to capture a significant share of large, highly fragmented markets, both in the commercial and public sector," said Chairman and CEO Bill Angrick. Of course, with the stock hitting an all-time high on today's report -- up a whopping 225% over the past year -- and trading at a forward P/E of 35, Fools might want to wait for a pullback before buying into that bullishness.
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