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

SPS Commerce (NASDAQ:SPSC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.410-3.420 for the period, compared to the consensus estimate of 3.360. The company issued revenue guidance of $635.4 million-$636.4 million, compared to the consensus revenue estimate of $631.3 million. SPS Commerce also updated its FY24 guidance to $3.41-$3.42 EPS.

SPS Commerce Price Performance

NASDAQ:SPSC traded down $20.49 on Friday, reaching $170.49. The stock had a trading volume of 636,065 shares, compared to its average volume of 179,940. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 91.26 and a beta of 0.82. SPS Commerce has a 12-month low of $151.96 and a 12-month high of $218.74. The firm’s fifty day moving average is $193.22 and its two-hundred day moving average is $190.55.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. During the same quarter last year, the business earned $0.42 earnings per share. SPS Commerce’s revenue was up 17.8% compared to the same quarter last year. As a group, research analysts forecast that SPS Commerce will post 2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPSC. DA Davidson lifted their target price on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a report on Friday, July 26th. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Craig Hallum boosted their price target on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Finally, Stifel Nicolaus upped their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $223.38.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now directly owns 16,212 shares of the company’s stock, valued at $3,264,286.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.