SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.63-$3.66 for the period, compared to the consensus earnings per share estimate of $3.33. The company issued revenue guidance of $624.2-$626.0 million, compared to the consensus revenue estimate of $623.61 million. SPS Commerce also updated its FY 2024 guidance to 3.630-3.660 EPS.

Analysts Set New Price Targets

Several brokerages recently commented on SPSC. Redburn Atlantic began coverage on SPS Commerce in a research note on Tuesday, May 14th. They set a buy rating and a $220.00 price objective on the stock. Needham & Company LLC raised their price objective on SPS Commerce from $205.00 to $230.00 and gave the stock a buy rating in a research note on Friday. DA Davidson raised their price objective on SPS Commerce from $225.00 to $240.00 and gave the stock a buy rating in a research note on Friday. William Blair reaffirmed a market perform rating on shares of SPS Commerce in a research note on Thursday, April 25th. Finally, Robert W. Baird raised their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a research note 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. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $216.25.

SPS Commerce Price Performance

Shares of SPSC traded up $3.38 during midday trading on Friday, hitting $209.00. The stock had a trading volume of 282,421 shares, compared to its average volume of 181,473. The company has a 50 day simple moving average of $191.89 and a two-hundred day simple moving average of $185.90. SPS Commerce has a twelve month low of $151.96 and a twelve month high of $218.74. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 116.08 and a beta of 0.85.

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

Insider Buying and Selling

In related news, Director Philip Soran sold 2,390 shares of SPS Commerce stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the completion of the transaction, the director now owns 18,852 shares in the company, valued at $3,879,553.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other SPS Commerce 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 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 $2,855,759.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the sale, the director now owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,242 shares of company stock worth $2,422,377. Company 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.