SPS Commerce (NASDAQ:SPSC) Issues FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.630-3.660 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of $624.2 million-$626.0 million, compared to the consensus revenue estimate of $623.5 million. SPS Commerce also updated its FY24 guidance to $3.63-$3.66 EPS.

SPS Commerce Trading Up 1.6 %

NASDAQ:SPSC traded up $3.38 on Friday, hitting $209.00. 282,430 shares of the company’s stock traded hands, compared to its average volume of 207,100. The company has a market cap of $7.74 billion, a PE ratio of 114.21 and a beta of 0.85. SPS Commerce has a 1 year low of $151.96 and a 1 year high of $218.74. The firm has a 50-day moving average price of $192.15 and a 200-day moving average price of $186.10.

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

Analyst Ratings Changes

SPSC has been the topic of a number of recent analyst reports. William Blair reaffirmed a market perform rating on shares of SPS Commerce in a research note on Thursday, April 25th. Robert W. Baird increased their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a report on Friday. DA Davidson raised their price target on SPS Commerce from $225.00 to $240.00 and gave the company a buy rating in a research note on Friday. Redburn Atlantic started coverage on SPS Commerce in a research note on Tuesday, May 14th. They issued a buy rating and a $220.00 price target for the company. Finally, Needham & Company LLC lifted their target price on SPS Commerce from $205.00 to $230.00 and gave the stock a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $216.25.

Insider Activity at SPS Commerce

In other news, Director James Burr Ramsey sold 6,567 shares of the firm’s 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 sale, the director now owns 14,728 shares in the company, valued at approximately $2,855,759.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction 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 approximately $2,855,759.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Philip Soran sold 3,285 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was 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 directly owns 18,852 shares of the company’s stock, valued at $3,771,531.12. The disclosure for this sale can be found here. In the last ninety days, insiders have 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.