Needham & Company LLC Reiterates “Buy” Rating for SPS Commerce (NASDAQ:SPSC)

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $230.00 price target on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 20.15% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird upped their target price on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Piper Sandler started coverage on SPS Commerce in a research note on Monday, November 25th. They set a “neutral” rating and a $198.00 target price for the company. Finally, Stifel Nicolaus lowered their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $191.42 on Wednesday. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 91.59 and a beta of 0.88. SPS Commerce has a 1 year low of $160.58 and a 1 year high of $218.74. The business has a fifty day moving average of $188.03 and a 200-day moving average of $191.31.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. During the same quarter last year, the company earned $0.53 EPS. SPS Commerce’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities research analysts predict that SPS Commerce will post 2.38 EPS for the current year.

Insider Transactions at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares of the company’s stock, valued at $9,238,941.74. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of SPS Commerce by 1.1% during the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after acquiring an additional 16,357 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in SPS Commerce by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,248,581 shares of the software maker’s stock valued at $242,437,000 after purchasing an additional 21,170 shares in the last quarter. Geode Capital Management LLC increased its position in SPS Commerce by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock worth $182,287,000 after purchasing an additional 14,174 shares during the last quarter. FMR LLC raised its stake in shares of SPS Commerce by 18.3% during the 3rd quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after purchasing an additional 104,769 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of SPS Commerce by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 497,355 shares of the software maker’s stock valued at $93,583,000 after buying an additional 12,552 shares during the last quarter. Institutional investors and hedge funds own 98.96% 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.