SPS Commerce Inc. (SPSC) Given Consensus Recommendation of “Buy” by Brokerages
SPS Commerce Inc. (NASDAQ:SPSC) has been assigned an average rating of “Buy” from the nine analysts that are currently covering the stock. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $79.50.
A number of brokerages have weighed in on SPSC. Pacific Crest began coverage on SPS Commerce in a research report on Thursday, September 29th. They set an “overweight” rating and a $85.00 price target on the stock. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. First Analysis initiated coverage on SPS Commerce in a research report on Monday, September 26th. They issued an “overweight” rating and a $86.00 target price on the stock. Finally, Needham & Company LLC upped their target price on SPS Commerce from $70.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, September 26th.
In related news, CEO Archie C. Black sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $63.38, for a total value of $633,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,600 shares in the company, valued at $4,981,668. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael A. Smerklo sold 580 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $67.40, for a total value of $39,092.00. Following the completion of the sale, the director now owns 760 shares of the company’s stock, valued at $51,224. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
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Several large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its stake in SPS Commerce by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,322 shares of the company’s stock valued at $141,000 after buying an additional 285 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in SPS Commerce by 265.6% in the third quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the company’s stock valued at $171,000 after buying an additional 1,697 shares during the last quarter. Bank of Montreal Can acquired a new stake in SPS Commerce during the second quarter valued at $180,000. Menta Capital LLC acquired a new stake in SPS Commerce during the second quarter valued at $212,000. Finally, HBK Investments L P acquired a new stake in SPS Commerce during the first quarter valued at $273,000.
SPS Commerce (NASDAQ:SPSC) traded down 2.78% during midday trading on Tuesday, reaching $70.57. The company had a trading volume of 28,406 shares. The stock has a market cap of $1.20 billion, a P/E ratio of 252.04 and a beta of 1.17. The firm has a 50-day moving average of $69.30 and a 200-day moving average of $58.82. SPS Commerce has a 12 month low of $38.35 and a 12 month high of $77.86.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $474 million for the quarter, compared to the consensus estimate of $47.06 million. SPS Commerce had a return on equity of 3.84% and a net margin of 2.73%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, equities analysts expect that SPS Commerce will post $0.98 EPS for the current fiscal year.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.
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