SPS Commerce, Inc. (SPSC) Price Target Cut to $62.00
SPS Commerce, Inc. (NASDAQ:SPSC) had its price target decreased by Oppenheimer Holdings, Inc. from $74.00 to $62.00 in a research report report published on Friday morning. Oppenheimer Holdings, Inc. currently has an outperform rating on the software maker’s stock.
Several other equities research analysts have also issued reports on the company. Stifel Nicolaus decreased their target price on SPS Commerce from $75.00 to $68.00 and set a buy rating for the company in a research report on Friday. Zacks Investment Research lowered SPS Commerce from a buy rating to a hold rating in a report on Thursday, September 28th. ValuEngine lowered SPS Commerce from a hold rating to a sell rating in a report on Thursday, September 7th. KeyCorp reissued a hold rating on shares of SPS Commerce in a report on Friday, August 25th. Finally, BidaskClub raised SPS Commerce from a strong sell rating to a sell rating in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. SPS Commerce presently has a consensus rating of Hold and an average target price of $70.78.
SPS Commerce (SPSC) opened at 48.44 on Friday. SPS Commerce has a 1-year low of $45.03 and a 1-year high of $73.16. The company has a market cap of $834.19 million, a price-to-earnings ratio of 91.57 and a beta of 1.13. The company’s 50-day moving average is $57.30 and its 200 day moving average is $58.89.
SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. The firm had revenue of $56.15 million during the quarter, compared to analyst estimates of $56.15 million. During the same period last year, the firm posted $0.27 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. On average, equities analysts predict that SPS Commerce will post $0.88 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in SPSC. Parametric Portfolio Associates LLC boosted its stake in SPS Commerce by 32.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 17,978 shares of the software maker’s stock worth $1,052,000 after purchasing an additional 4,395 shares during the period. Victory Capital Management Inc. boosted its stake in SPS Commerce by 83.4% in 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 period. Arizona State Retirement System boosted its stake in SPS Commerce by 2.3% in the 1st quarter. Arizona State Retirement System now owns 9,000 shares of the software maker’s stock worth $526,000 after purchasing an additional 200 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in SPS Commerce by 1.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,890 shares of the software maker’s stock worth $228,000 after purchasing an additional 70 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in SPS Commerce by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 138,178 shares of the software maker’s stock worth $8,082,000 after purchasing an additional 5,632 shares during the period. 97.03% of the stock is owned by institutional investors.
SPS Commerce Company Profile
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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