SPS Commerce (NASDAQ:SPSC) Issues FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.410-3.420 for the period, compared to the consensus EPS estimate of 3.360. The company issued revenue guidance of $635.4 million-$636.4 million, compared to the consensus revenue estimate of $631.3 million. SPS Commerce also updated its FY24 guidance to $3.41-$3.42 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SPSC. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. DA Davidson increased their target price on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird increased their target price on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $220.25.

SPS Commerce Price Performance

SPS Commerce stock traded up $1.23 during mid-day trading on Thursday, reaching $190.98. 200,494 shares of the company were exchanged, compared to its average volume of 177,664. The company has a fifty day simple moving average of $193.22 and a 200-day simple moving average of $190.55. SPS Commerce has a 12 month low of $151.96 and a 12 month high of $218.74. The firm has a market cap of $7.09 billion, a PE ratio of 99.47 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. During the same quarter last year, the company earned $0.42 EPS. The company’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts anticipate that SPS Commerce will post 2.32 earnings per share for the current year.

Insider Activity

In other news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the transaction, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.