Equities research analysts forecast that SPS Commerce, Inc. (NASDAQ:SPSC) will announce $53.76 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for SPS Commerce’s earnings, with the lowest sales estimate coming in at $53.69 million and the highest estimate coming in at $53.90 million. SPS Commerce posted sales of $47.35 million during the same quarter last year, which indicates a positive year over year growth rate of 13.5%. The firm is expected to issue its next earnings results on Wednesday, July 26th.
On average, analysts expect that SPS Commerce will report full year sales of $53.76 million for the current fiscal year, with estimates ranging from $220.98 million to $221.70 million. For the next fiscal year, analysts forecast that the firm will post sales of $252.66 million per share, with estimates ranging from $250.88 million to $254.10 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow SPS Commerce.
SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, April 27th. The software maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $51.90 million for the quarter, compared to analyst estimates of $51.82 million. SPS Commerce had a net margin of 3.83% and a return on equity of 4.62%. SPS Commerce’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share.
Several analysts have recently weighed in on SPSC shares. Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Friday, May 5th. Needham & Company LLC decreased their target price on shares of SPS Commerce from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Finally, Benchmark Co. lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $74.43.
SPS Commerce (SPSC) traded down 0.05% during midday trading on Friday, reaching $60.55. 84,186 shares of the company traded hands. SPS Commerce has a 12 month low of $48.11 and a 12 month high of $74.85. The firm’s 50 day moving average price is $58.78 and its 200 day moving average price is $61.75. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 137.61 and a beta of 1.26.
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Institutional investors have recently made changes to their positions in the stock. Blueport Capital L.P. increased its position in shares of SPS Commerce by 28.3% in the first quarter. Blueport Capital L.P. now owns 2,382 shares of the software maker’s stock valued at $139,000 after buying an additional 525 shares in the last quarter. Southpoint Capital Advisors LP purchased a new position in shares of SPS Commerce during the first quarter valued at about $23,331,000. State Street Corp increased its position in shares of SPS Commerce by 6.4% in the first quarter. State Street Corp now owns 392,411 shares of the software maker’s stock valued at $22,948,000 after buying an additional 23,538 shares in the last quarter. Bank of America Corp DE increased its position in shares of SPS Commerce by 11.9% in the first quarter. Bank of America Corp DE now owns 72,232 shares of the software maker’s stock valued at $4,224,000 after buying an additional 7,678 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of SPS Commerce during the first quarter valued at about $367,000. 98.99% of the stock is owned by hedge funds and other institutional investors.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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