SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.28-3.32 for the period, compared to the consensus EPS estimate of $3.16. The company issued revenue guidance of $619.9-621.9 million, compared to the consensus revenue estimate of $618.91 million. SPS Commerce also updated its Q2 guidance to $0.75-0.76 EPS.

Analyst Upgrades and Downgrades

SPSC has been the topic of a number of analyst reports. Citigroup began coverage on shares of SPS Commerce in a report on Wednesday, March 13th. They issued a buy rating and a $216.00 price objective on the stock. StockNews.com cut shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Finally, Needham & Company LLC restated a buy rating and issued a $205.00 target price on shares of SPS Commerce in a research note on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $199.67.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC traded down $1.69 during mid-day trading on Thursday, reaching $169.43. The company had a trading volume of 222,607 shares, compared to its average volume of 174,334. SPS Commerce has a one year low of $140.00 and a one year high of $218.74. The business’s 50-day simple moving average is $179.79 and its 200 day simple moving average is $179.11. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 95.76 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to the consensus estimate of $143.05 million. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. On average, sell-side analysts anticipate that SPS Commerce will post 2.13 EPS for the current year.

Insider Activity

In related news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the sale, the director now owns 15,747 shares in the company, valued at $3,102,631.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Kimberly K. Nelson sold 5,965 shares of SPS Commerce stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $183.17, for a total value of $1,092,609.05. Following the completion of the transaction, the chief financial officer now owns 147,553 shares in the company, valued at approximately $27,027,283.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following the transaction, the director now owns 15,747 shares in the company, valued at $3,102,631.41. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock worth $12,122,275 in the last quarter. 1.00% of the stock is 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.