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What: Shares of Liquidity Services (NASDAQ:LQDT) have jumped today by as much as 13% after the company said sales posted a big increase last month.
So what: The company said that sales rose 18% last month relative to the same period a year prior to $258 million. That was on target with Liquidity Services' previously provided guidance. The news gave investors relief, especially following the plunge in January on disappointing outlook.
Now what: Robert Baird analyst Colin Sebastian said that organic growth had increased to 10% last month, a significant improvement compared to the negative organic growth posted in the first two months of the year. The analyst remains bullish with an "outperform" rating. Liquidity Services is set to report full earnings on May 2 for the first quarter.
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