SPS Commerce, Inc. (SPSC) Receives $72.20 Average PT from Analysts
SPS Commerce, Inc. (NASDAQ:SPSC) has earned an average rating of “Hold” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $72.20.
A number of research firms have recently weighed in on SPSC. BidaskClub raised SPS Commerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Zacks Investment Research lowered SPS Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Oppenheimer Holdings, Inc. began coverage on SPS Commerce in a research report on Thursday, July 20th. They set an “outperform” rating and a $74.00 price objective on the stock. CIBC began coverage on SPS Commerce in a research report on Friday, July 21st. They set an “outperform” rating and a $74.00 price objective on the stock. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $65.00 price objective on shares of SPS Commerce in a research report on Wednesday, July 26th.
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Several institutional investors have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN increased its position in shares of SPS Commerce by 0.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 148,725 shares of the software maker’s stock worth $9,483,000 after acquiring an additional 450 shares during the period. Piedmont Investment Advisors LLC purchased a new position in SPS Commerce in the second quarter valued at $237,000. DF Dent & Co. Inc. purchased a new position in SPS Commerce in the second quarter valued at $404,000. The Manufacturers Life Insurance Company increased its holdings in SPS Commerce by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,084 shares of the software maker’s stock valued at $835,000 after buying an additional 279 shares during the last quarter. Finally, Southpoint Capital Advisors LP increased its holdings in SPS Commerce by 88.0% in the second quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the software maker’s stock valued at $47,820,000 after buying an additional 351,103 shares during the last quarter. 98.27% of the stock is currently owned by institutional investors and hedge funds.
SPS Commerce (SPSC) traded up 1.83% on Thursday, reaching $59.04. The company’s stock had a trading volume of 99,045 shares. SPS Commerce has a 52 week low of $48.11 and a 52 week high of $73.16. The company has a 50 day moving average of $58.27 and a 200 day moving average of $59.03. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 111.61 and a beta of 1.13.
SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $54.30 million for the quarter, compared to analyst estimates 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 previous year, the company earned $0.15 earnings per share. On average, analysts forecast that SPS Commerce will post $0.88 earnings per share for the current 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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