SPS Commerce, Inc. (NASDAQ:SPSC) Downgraded by BidaskClub to “Strong Sell”
BidaskClub downgraded shares of SPS Commerce, Inc. (NASDAQ:SPSC) from a sell rating to a strong sell rating in a research note published on Friday morning.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised SPS Commerce from a hold rating to a buy rating and set a $65.00 target price on the stock in a research note on Wednesday. Northland Securities set a $84.00 target price on SPS Commerce and gave the company a buy rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $74.00 target price on SPS Commerce and gave the company a buy rating in a research note on Friday, July 28th. Canaccord Genuity reaffirmed a hold rating and set a $65.00 target price on shares of SPS Commerce in a research note on Wednesday, July 26th. Finally, CIBC began coverage on SPS Commerce in a research note on Friday, July 21st. They set an outperform rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $75.50.
Shares of SPS Commerce (NASDAQ SPSC) traded down 1.50% on Friday, hitting $57.92. 65,430 shares of the stock traded hands. SPS Commerce has a one year low of $48.11 and a one year high of $74.85. The stock has a market cap of $997.44 million, a price-to-earnings ratio of 109.49 and a beta of 1.20. The company’s 50 day moving average is $60.97 and its 200 day moving average is $59.67.
SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. SPS Commerce had a return on equity of 4.70% and a net margin of 4.41%. The company had revenue of $54.30 million for the quarter, compared to analysts’ expectations of $53.74 million. During the same quarter in the previous year, the business posted $0.15 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts forecast that SPS Commerce will post $0.88 EPS for the current year.
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Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of SPS Commerce by 139,789.2% in the first quarter. BlackRock Inc. now owns 2,007,410 shares of the software maker’s stock valued at $117,414,000 after buying an additional 2,005,975 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of SPS Commerce during the first quarter valued at about $23,331,000. FMR LLC raised its stake in shares of SPS Commerce by 33.6% in the first quarter. FMR LLC now owns 850,300 shares of the software maker’s stock valued at $49,734,000 after buying an additional 214,000 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of SPS Commerce by 561.4% in the first quarter. Citadel Advisors LLC now owns 166,514 shares of the software maker’s stock valued at $9,739,000 after buying an additional 141,337 shares in the last quarter. Finally, North Run Capital LP purchased a new stake in shares of SPS Commerce during the first quarter valued at about $7,123,000. Institutional investors and hedge funds own 97.92% of the company’s stock.
About SPS Commerce
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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