SPS Commerce (NASDAQ:SPSC) Updates Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.75-0.76 for the period, compared to the consensus earnings per share estimate of $0.76. The company issued revenue guidance of $150.9-151.7 million, compared to the consensus revenue estimate of $151.18 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SPSC shares. Citigroup initiated coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a buy rating and a $216.00 price objective on the stock. Robert W. Baird upped their target price on SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a report on Friday. Needham & Company LLC reiterated a buy rating and issued a $205.00 target price on shares of SPS Commerce in a report on Friday. Finally, StockNews.com cut SPS Commerce from a buy rating to a hold rating in a report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $196.57.

SPS Commerce Price Performance

SPS Commerce stock traded up $9.53 during midday trading on Friday, reaching $178.96. The company’s stock had a trading volume of 369,697 shares, compared to its average volume of 180,762. The stock’s 50-day simple moving average is $178.97 and its 200-day simple moving average is $179.13. SPS Commerce has a 52-week low of $140.00 and a 52-week high of $218.74. The stock has a market capitalization of $6.64 billion, a P/E ratio of 97.79 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. As a group, equities research analysts expect that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In related news, 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 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 is available through the SEC website. In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the sale, the director now directly owns 89,940 shares of the company’s stock, valued at approximately $16,137,034.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. Insiders have sold a total of 66,688 shares of company stock worth $12,122,275 over the last ninety days. Corporate 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.