SPS Commerce (NASDAQ:SPSC) Issues Q3 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.83-$0.84 for the period, compared to the consensus EPS estimate of $0.83. The company issued revenue guidance of $157.6-$158.6 million, compared to the consensus revenue estimate of $157.06 million. SPS Commerce also updated its FY 2024 guidance to 3.630-3.660 EPS.

SPS Commerce Price Performance

Shares of SPS Commerce stock traded up $3.38 on Friday, hitting $209.00. The company had a trading volume of 282,421 shares, compared to its average volume of 181,473. The business has a 50-day simple moving average of $191.89 and a 200-day simple moving average of $185.90. The company has a market cap of $7.74 billion, a PE ratio of 116.08 and a beta of 0.85. SPS Commerce has a 52 week low of $151.96 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $149.58 million during the quarter, compared to analysts’ expectations of $146.50 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. On average, equities research analysts predict that SPS Commerce will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPSC has been the subject of several research analyst reports. Citigroup upped their price target on shares of SPS Commerce from $213.00 to $222.00 and gave the company a buy rating in a research report on Friday, May 10th. Stifel Nicolaus upped their price target on shares of SPS Commerce from $200.00 to $225.00 and gave the company a buy rating in a research report on Friday. Robert W. Baird lifted their target price on shares of SPS Commerce from $178.00 to $186.00 and gave the company a neutral rating in a research note on Friday. DA Davidson lifted their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the company a buy rating in a research note on Friday. Finally, Craig Hallum lifted their price objective on shares of SPS Commerce from $210.00 to $230.00 and gave the company a buy rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $216.25.

Insider Buying and Selling at SPS Commerce

In other news, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the sale, the director now owns 14,728 shares of the company’s stock, valued at $2,855,759.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Philip Soran sold 3,285 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $200.06, for a total transaction of $657,197.10. Following the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at $3,771,531.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the transaction, the director now directly owns 14,728 shares in the company, valued at $2,855,759.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,242 shares of company stock valued at $2,422,377. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.