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

SPS Commerce (NASDAQ:SPSC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. 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.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC traded up $3.38 during trading on Friday, reaching $209.00. 282,430 shares of the stock traded hands, compared to its average volume of 207,100. The stock has a 50-day moving average of $192.15 and a two-hundred day moving average of $186.10. SPS Commerce has a 52-week low of $151.96 and a 52-week high of $218.74. The stock has a market cap of $7.74 billion, a P/E ratio of 114.21 and a beta of 0.85.

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

Wall Street Analyst Weigh In

SPSC has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price target on shares of SPS Commerce from $205.00 to $230.00 and gave the company a buy rating in a report on Friday. Craig Hallum increased their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the company a buy rating in a report on Friday. Stifel Nicolaus increased their price objective on shares of SPS Commerce from $200.00 to $225.00 and gave the company a buy rating in a research report on Friday. Citigroup increased their price objective 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. Finally, DA Davidson increased their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the company a buy rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $216.25.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total value of $491,838.10. Following the transaction, the director now directly owns 18,852 shares in the company, valued at $3,879,553.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the 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 transaction, the director now directly owns 14,728 shares in the company, valued at $2,855,759.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip Soran sold 2,390 shares of the 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 completion of the transaction, the director now owns 18,852 shares in the company, valued at $3,879,553.08. The disclosure for this sale can be found here. Insiders have sold a total of 12,242 shares of company stock worth $2,422,377 over the last quarter. 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.