What happened
LivePerson (LPSN +2.74%) shares trailed a declining market in September as the stock fell by 13% compared to the S&P 500's 3.9% drop, according to data provided by S&P Global Market Intelligence.
That dip didn't change the broader 2020 story for the AI communications specialist, though -- it remains higher by more than 40% so far this year.
Image source: Getty Images.
So what
LivePerson appears to have been caught up in the broader market slump that cut into the prices of most tech giants. The selling pressure last month was most intense for companies that, like LivePerson, have benefited the most from the stock market rally that paused in early September. Its shares rose by nearly 40% in August, after all.
Now what
LivePerson revealed strong second-quarter operating results in early August that contained plenty of evidence that its platform is experiencing strong demand among large enterprises. AI-powered support calls appear to be rising in demand due in part to pandemic-related changes to employees' work behaviors.
Investors will get another chance to judge the company's growth outlook when LivePerson announces its third-quarter results in early November. CEO Rob LoCascio and his team have predicted that sales for the period will land between $92 million and $93 million, constituting a 24% year-over-year increase.
