SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.28-3.32 for the period, compared to the consensus earnings per share 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 FY 2024 guidance to 3.280-3.320 EPS.

Analysts Set New Price Targets

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

SPS Commerce Stock Performance

SPS Commerce stock traded up $9.53 during mid-day trading on Friday, reaching $178.96. 369,697 shares of the company were exchanged, compared to its average volume of 180,762. The firm’s 50-day simple moving average is $178.97 and its two-hundred day simple moving average is $179.08. The firm has a market cap of $6.64 billion, a PE ratio of 97.79 and a beta of 0.79. SPS Commerce has a twelve month low of $140.00 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The business 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 anticipate that SPS Commerce will post 2.13 EPS for the current year.

Insider Activity

In other news, Director Sven Wehrwein sold 2,408 shares of the firm’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 completion of the sale, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction 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 transaction, the director now directly owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction 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 directly owns 15,747 shares of the company’s stock, valued at $3,102,631.41. The disclosure for this sale can be found here. Insiders sold 66,688 shares of company stock valued at $12,122,275 in the last three months. 1.00% of the stock is currently 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.