SPS Commerce (NASDAQ:SPSC) Releases Q3 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.83-$0.84 for the period, compared to the consensus earnings per share 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 SPSC traded up $3.38 during midday trading on Friday, reaching $209.00. The stock had a trading volume of 282,421 shares, compared to its average volume of 181,473. The firm’s 50 day moving average price is $191.89 and its 200-day moving average price is $185.90. SPS Commerce has a 52 week low of $151.96 and a 52 week high of $218.74. The company has a market capitalization of $7.74 billion, a P/E ratio of 116.08 and a beta of 0.85.

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

Analysts Set New Price Targets

Several research analysts have issued reports on SPSC shares. Robert W. Baird lifted their price target on shares of SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a research report on Friday. DA Davidson boosted their target price on SPS Commerce from $225.00 to $240.00 and gave the stock a buy rating in a research report on Friday. Craig Hallum upped their target price on SPS Commerce from $210.00 to $230.00 and gave the company a buy rating in a report on Friday. William Blair reissued a market perform rating on shares of SPS Commerce in a research report on Thursday, April 25th. Finally, Stifel Nicolaus upped their price target on SPS Commerce from $200.00 to $225.00 and gave the company a buy rating in a research report on Friday. Three research 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 presently has an average rating of Moderate Buy and an average target price of $216.25.

Insider Activity

In related news, Director James Burr Ramsey sold 6,567 shares of SPS Commerce stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total value of $1,273,341.30. Following the completion of the sale, the director now directly owns 14,728 shares in the company, valued at $2,855,759.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 completion of the sale, the director now owns 18,852 shares in the company, valued at approximately $3,771,531.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Burr Ramsey sold 6,567 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 approximately $2,855,759.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,242 shares of company stock worth $2,422,377. 1.00% of the stock is owned by corporate insiders.

About SPS Commerce

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.