SPS Commerce (NASDAQ:SPSC) Releases Q3 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.830-0.840 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of $157.6 million-$158.6 million, compared to the consensus revenue estimate of $157.0 million. SPS Commerce also updated its FY 2024 guidance to 3.630-3.660 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of SPS Commerce from $178.00 to $186.00 and gave the company a neutral rating in a report on Friday. Stifel Nicolaus increased their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a buy rating in a research note on Friday. DA Davidson increased their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a buy rating in a research note on Friday. Craig Hallum increased their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a buy rating in a research note on Friday. Finally, Citigroup increased their target price on shares of SPS Commerce from $213.00 to $222.00 and gave the stock a buy rating in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $216.25.

SPS Commerce Stock Performance

Shares of SPSC traded up $3.38 during mid-day trading on Friday, hitting $209.00. 282,430 shares of the company’s stock were exchanged, compared to its average volume of 207,100. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 114.21 and a beta of 0.85. SPS Commerce has a fifty-two week low of $151.96 and a fifty-two week high of $218.74. The stock’s 50-day moving average is $192.15 and its 200-day moving average is $186.10.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.61%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, equities research analysts anticipate that SPS Commerce will post 2.23 EPS for the current year.

Insider Transactions at SPS Commerce

In related news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total value of $1,273,341.30. Following 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 filing with the SEC, 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 that occurred on Friday, July 12th. The shares were sold at an average price of $200.06, for a total value of $657,197.10. Following the sale, the director now owns 18,852 shares of the company’s stock, valued at $3,771,531.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction that occurred 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 directly owns 14,728 shares in the company, valued at approximately $2,855,759.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,242 shares of company stock valued at $2,422,377. 1.00% of the stock is currently owned by corporate insiders.

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.