SPS Commerce (NASDAQ:SPSC) Issues 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.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC traded up $3.38 during trading hours on Friday, hitting $209.00. The stock had a trading volume of 282,421 shares, compared to its average volume of 181,473. SPS Commerce has a 1-year low of $151.96 and a 1-year high of $218.74. The stock’s fifty day simple moving average is $191.89 and its 200 day simple moving average is $185.90. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 116.08 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, April 25th. The software maker reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $146.50 million. As a group, research analysts anticipate that SPS Commerce will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPSC shares. Craig Hallum lifted their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the company a buy rating in a research note on Friday. Redburn Atlantic assumed coverage on shares of SPS Commerce in a research report on Tuesday, May 14th. They issued a buy rating and a $220.00 price target on the stock. Robert W. Baird raised their target price on SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a research report on Friday. Stifel Nicolaus boosted their price target on SPS Commerce from $200.00 to $225.00 and gave the company a buy rating in a research note on Friday. Finally, Needham & Company LLC raised their price objective on shares of SPS Commerce from $205.00 to $230.00 and gave the stock a buy rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, SPS Commerce has an average rating of Moderate Buy and a consensus target price of $216.25.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total value of $491,838.10. Following the completion of the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Burr Ramsey sold 6,567 shares of the company’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 in the company, valued at approximately $2,855,759.20. 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. 1.00% of the stock is currently owned by company insiders.

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.