SPS Commerce (NASDAQ:SPSC) Releases FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.28-3.32 for the period, compared to the consensus estimate of $3.16. The company issued revenue guidance of $619.9-621.9 million, compared to the consensus revenue estimate of $618.91 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

Analysts Set New Price Targets

Several research firms recently issued reports on SPSC. StockNews.com lowered shares of SPS Commerce from a buy rating to a hold rating in a research report on Friday, March 15th. Needham & Company LLC reaffirmed a buy rating and set a $205.00 price objective on shares of SPS Commerce in a research note on Friday. Robert W. Baird upped their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a research note on Friday. Finally, Citigroup assumed coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They set a buy rating and a $216.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $196.57.

SPS Commerce Trading Up 5.6 %

Shares of SPSC traded up $9.53 during midday trading on Friday, reaching $178.96. The stock had a trading volume of 369,697 shares, compared to its average volume of 180,762. The firm has a 50 day simple moving average of $178.97 and a 200-day simple moving average of $179.08. SPS Commerce has a one year low of $140.00 and a one year high of $218.74. The firm has a market cap of $6.64 billion, a PE ratio of 97.79 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. The business had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. As a group, research analysts forecast that SPS Commerce will post 2.13 EPS for the current fiscal year.

Insider Activity

In related news, COO James J. Frome sold 12,887 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the sale, the chief operating officer now directly owns 44,369 shares of the company’s stock, valued at approximately $7,954,030.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Archie C. Black sold 12,875 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total value of $2,310,032.50. Following the sale, the director now directly owns 89,940 shares of the company’s stock, valued at approximately $16,137,034.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO James J. Frome sold 12,887 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the completion of the sale, the chief operating officer now directly owns 44,369 shares in the company, valued at $7,954,030.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,688 shares of company stock worth $12,122,275. 1.00% of the stock is currently owned by corporate insiders.

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.