SPS Commerce (NASDAQ:SPSC) Updates Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.75-0.76 for the period, compared to the consensus earnings per share estimate of $0.76. The company issued revenue guidance of $150.9-151.7 million, compared to the consensus revenue estimate of $151.18 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

SPS Commerce Price Performance

SPSC stock traded up $9.53 during trading on Friday, hitting $178.96. 369,697 shares of the company traded hands, compared to its average volume of 180,762. The stock’s 50-day simple moving average is $178.97 and its 200 day simple moving average is $179.08. The company has a market cap of $6.64 billion, a PE ratio of 97.79 and a beta of 0.79. SPS Commerce has a 1 year low of $140.00 and a 1 year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. Research analysts expect that SPS Commerce will post 2.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com cut SPS Commerce from a buy rating to a hold rating in a research report on Friday, March 15th. Robert W. Baird boosted their price objective on SPS Commerce from $172.00 to $178.00 and gave the company a neutral rating in a research report on Friday. Citigroup assumed coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a buy rating and a $216.00 price objective for the company. Finally, Needham & Company LLC restated a buy rating and issued a $205.00 price objective on shares of SPS Commerce in a research report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $196.57.

Insider Transactions at SPS Commerce

In other news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 1st. The stock was 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 $16,137,034.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now owns 15,747 shares of the company’s stock, valued at $3,102,631.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Archie C. Black sold 12,875 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total value of $2,310,032.50. Following the transaction, the director now directly owns 89,940 shares in the company, valued at approximately $16,137,034.80. The disclosure for this sale can be found here. Insiders have sold 66,688 shares of company stock valued at $12,122,275 over the last ninety days. Insiders own 1.00% of the company’s stock.

About SPS Commerce

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.