SPS Commerce (NASDAQ:SPSC) Releases Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its second quarter earnings guidance on Thursday. 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPSC. StockNews.com lowered SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Citigroup initiated coverage on SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 price target for the company. Robert W. Baird raised their price objective on SPS Commerce from $172.00 to $178.00 and gave the company a neutral rating in a research report on Friday. Finally, Needham & Company LLC reissued a buy rating and set a $205.00 price objective on shares of SPS Commerce in a research report on Friday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $196.57.

SPS Commerce Stock Performance

Shares of SPSC traded up $9.53 during trading hours on Friday, hitting $178.96. The company had a trading volume of 369,697 shares, compared to its average volume of 180,762. The firm has a fifty day moving average price of $178.97 and a 200-day moving average price of $179.08. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. SPS Commerce has a 52-week low of $140.00 and a 52-week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted 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 firm had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. Research analysts anticipate that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Insider Transactions at SPS Commerce

In other news, COO James J. Frome sold 2,901 shares of SPS Commerce stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the transaction, the chief operating officer now owns 54,029 shares of the company’s stock, valued at approximately $9,904,596.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.42, for a total value of $2,310,032.50. Following the completion of the sale, the director now directly owns 89,940 shares in the company, valued at approximately $16,137,034.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO James J. Frome sold 2,901 shares of SPS Commerce stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the sale, the chief operating officer now owns 54,029 shares of the company’s stock, valued at $9,904,596.28. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock valued at $12,122,275 in the last quarter. 1.00% of the stock is owned by 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.