Investment analysts at CIBC assumed coverage on shares of SPS Commerce, Inc. (NASDAQ:SPSC) in a research note issued to investors on Friday. The firm set an “outperform” rating and a $74.00 price target on the software maker’s stock. CIBC’s target price suggests a potential upside of 25.55% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. assumed coverage on SPS Commerce in a report on Thursday. They issued an “outperform” rating and a $74.00 price target for the company. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub downgraded SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday. Benchmark Co. downgraded SPS Commerce from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, Needham & Company LLC decreased their price objective on SPS Commerce from $70.00 to $64.00 and set a “buy” rating for the company in a report on Friday, April 28th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $74.33.

Shares of SPS Commerce (NASDAQ:SPSC) traded down 1.59% during trading on Friday, reaching $58.94. The company had a trading volume of 201,174 shares. The firm has a market capitalization of $1.01 billion, a P/E ratio of 133.95 and a beta of 1.22. SPS Commerce has a 52-week low of $48.11 and a 52-week high of $74.85. The company has a 50 day moving average of $61.28 and a 200-day moving average of $60.45.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, April 27th. The software maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. SPS Commerce had a return on equity of 4.62% and a net margin of 3.83%. The firm had revenue of $51.90 million for the quarter, compared to analyst estimates of $51.82 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts expect that SPS Commerce will post $0.85 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of SPSC. Comerica Bank increased its position in SPS Commerce by 5.6% in the fourth quarter. Comerica Bank now owns 18,063 shares of the software maker’s stock worth $1,275,000 after buying an additional 964 shares during the last quarter. State Street Corp increased its position in SPS Commerce by 8.7% in the fourth quarter. State Street Corp now owns 368,873 shares of the software maker’s stock worth $25,787,000 after buying an additional 29,392 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in SPS Commerce by 37.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 5,900 shares of the software maker’s stock worth $412,000 after buying an additional 1,600 shares in the last quarter. Thrivent Financial for Lutherans increased its position in SPS Commerce by 3.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,190 shares of the software maker’s stock worth $642,000 after buying an additional 330 shares in the last quarter. Finally, Bank of Montreal Can increased its position in SPS Commerce by 0.6% in the first quarter. Bank of Montreal Can now owns 3,627 shares of the software maker’s stock worth $212,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

About SPS Commerce

SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.

Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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