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

Needham & Company LLC reaffirmed their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $230.00 price objective on the software maker’s stock.

Other equities research analysts have also recently issued reports about the company. DA Davidson raised their price target on SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a report on Friday, July 26th. Robert W. Baird lifted their price target on SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Stifel Nicolaus increased their price objective on shares of SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Northland Capmk downgraded shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, 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 research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.38.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $170.49 on Friday. The business’s fifty day moving average price is $192.69 and its two-hundred day moving average price is $190.73. SPS Commerce has a fifty-two week low of $151.96 and a fifty-two week high of $218.74. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 93.16 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. Research analysts expect that SPS Commerce will post 2.32 EPS for the current fiscal year.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the sale, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds have recently added to or reduced their stakes in SPSC. Diversify Wealth Management LLC boosted its stake in SPS Commerce by 8.7% during the 3rd quarter. Diversify Wealth Management LLC now owns 3,555 shares of the software maker’s stock worth $675,000 after acquiring an additional 285 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in SPS Commerce by 2.8% in the third quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock worth $449,000 after purchasing an additional 62 shares during the period. Smith Group Asset Management LLC boosted its position in shares of SPS Commerce by 25.9% during the third quarter. Smith Group Asset Management LLC now owns 3,533 shares of the software maker’s stock worth $686,000 after purchasing an additional 726 shares in the last quarter. Cavalier Investments LLC grew its holdings in shares of SPS Commerce by 6.2% in the 3rd quarter. Cavalier Investments LLC now owns 10,673 shares of the software maker’s stock valued at $2,072,000 after buying an additional 621 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of SPS Commerce by 4.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock valued at $256,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

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.