SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.41-$3.42 for the period, compared to the consensus EPS estimate of $3.36. The company issued revenue guidance of $635.4-$636.4 million, compared to the consensus revenue estimate of $631.31 million. SPS Commerce also updated its FY 2024 guidance to 3.410-3.420 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. DA Davidson raised their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $205.00 to $209.00 in a research note on Monday, July 29th. Robert W. Baird lifted their price objective on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Stifel Nicolaus upped their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday. Finally, Craig Hallum boosted their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Five equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.38.

SPS Commerce Stock Performance

NASDAQ SPSC traded down $20.49 on Friday, hitting $170.49. The stock had a trading volume of 636,500 shares, compared to its average volume of 179,940. The firm has a 50-day moving average of $192.69 and a 200-day moving average of $190.51. SPS Commerce has a 52-week low of $151.96 and a 52-week high of $218.74. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 88.80 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. As a group, research analysts anticipate that SPS Commerce will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.