SPS Commerce (NASDAQ:SPSC) Issues FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.630-3.660 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of $624.2 million-$626.0 million, compared to the consensus revenue estimate of $623.5 million. SPS Commerce also updated its FY24 guidance to $3.63-$3.66 EPS.

SPS Commerce Price Performance

Shares of NASDAQ SPSC traded up $0.26 during mid-day trading on Thursday, hitting $205.62. The company had a trading volume of 294,713 shares, compared to its average volume of 180,762. The business’s 50-day simple moving average is $191.70 and its 200-day simple moving average is $185.76. SPS Commerce has a 12 month low of $151.96 and a 12 month high of $218.74. The firm has a market cap of $7.61 billion, a P/E ratio of 113.27 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. The business had revenue of $149.58 million during the quarter, compared to analysts’ expectations of $146.50 million. As a group, sell-side analysts predict that SPS Commerce will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPSC. Citigroup increased their price target on shares of SPS Commerce from $213.00 to $222.00 and gave the stock a buy rating in a research report on Friday, May 10th. Needham & Company LLC reissued a buy rating and issued a $205.00 price target on shares of SPS Commerce in a research report on Friday, May 10th. Robert W. Baird increased their price target on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a research report on Friday, April 26th. William Blair reissued a market perform rating on shares of SPS Commerce in a research report on Thursday, April 25th. Finally, Redburn Atlantic began coverage on shares of SPS Commerce in a research report on Tuesday, May 14th. They issued a buy rating and a $220.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, SPS Commerce presently has an average rating of Moderate Buy and a consensus price target of $200.29.

Insider Transactions at SPS Commerce

In other news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the sale, the director now owns 14,728 shares of the company’s stock, valued at $2,855,759.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the sale, the director now owns 14,728 shares of the company’s stock, valued at $2,855,759.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the sale, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,242 shares of company stock valued at $2,422,377. Corporate 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.