SPS Commerce, Inc. (SPSC) Receives $74.63 Average Target Price from Analysts
Shares of SPS Commerce, Inc. (NASDAQ:SPSC) have been given a consensus recommendation of “Hold” by the fourteen research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $74.63.
A number of equities research analysts recently issued reports on the company. BidaskClub downgraded SPS Commerce from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Canaccord Genuity reissued a “hold” rating and set a $65.00 price target on shares of SPS Commerce in a research report on Wednesday, July 26th. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. CIBC assumed coverage on SPS Commerce in a research report on Friday, July 21st. They set an “outperform” rating and a $74.00 price target on the stock. Finally, Oppenheimer Holdings, Inc. set a $74.00 price target on SPS Commerce and gave the stock a “buy” rating in a research report on Friday, July 28th.
Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in SPS Commerce by 83.4% during the 1st quarter. Victory Capital Management Inc. now owns 2,003 shares of the software maker’s stock worth $117,000 after purchasing an additional 911 shares during the last quarter. Riverhead Capital Management LLC raised its position in SPS Commerce by 113.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock worth $136,000 after purchasing an additional 1,131 shares during the last quarter. Blueport Capital L.P. raised its position in SPS Commerce by 28.3% during the 1st quarter. Blueport Capital L.P. now owns 2,382 shares of the software maker’s stock worth $139,000 after purchasing an additional 525 shares during the last quarter. Pinebridge Investments L.P. raised its position in SPS Commerce by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock worth $145,000 after purchasing an additional 24 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in SPS Commerce by 13.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,255 shares of the software maker’s stock worth $190,000 after purchasing an additional 379 shares during the last quarter. 98.27% of the stock is owned by institutional investors and hedge funds.
Shares of SPS Commerce (NASDAQ:SPSC) traded down 1.87% during mid-day trading on Friday, reaching $57.05. The company had a trading volume of 85,892 shares. The stock has a market capitalization of $982.46 million, a P/E ratio of 107.84 and a beta of 1.17. The firm’s 50 day moving average is $58.98 and its 200-day moving average is $58.87. SPS Commerce has a 12-month low of $48.11 and a 12-month high of $74.85.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. The business had revenue of $54.30 million for the quarter, compared to the consensus estimate of $53.74 million. SPS Commerce had a return on equity of 4.70% and a net margin of 4.41%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, analysts expect that SPS Commerce will post $0.88 earnings per share for the current fiscal year.
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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