SPS Commerce, Inc. (NASDAQ:SPSC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other equities research analysts also recently issued research reports about the company. Northland Securities set a $84.00 price target on SPS Commerce and gave the stock a “buy” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $74.00 price target on SPS Commerce and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Wednesday, August 2nd. BidaskClub downgraded SPS Commerce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $65.00 price target on shares of SPS Commerce in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. SPS Commerce has a consensus rating of “Hold” and an average price target of $75.50.

SPS Commerce (SPSC) traded down 2.98% during midday trading on Thursday, hitting $58.54. The stock had a trading volume of 58,476 shares. The stock has a market capitalization of $1.01 billion, a PE ratio of 110.66 and a beta of 1.17. SPS Commerce has a 1-year low of $48.11 and a 1-year high of $74.85. The stock’s 50-day moving average is $58.97 and its 200-day moving average is $58.67.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. SPS Commerce had a return on equity of 4.70% and a net margin of 4.41%. The business had revenue of $54.30 million during the quarter, compared to the consensus estimate of $53.74 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. SPS Commerce’s revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that SPS Commerce will post $0.88 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in SPS Commerce by 139,789.2% in the first quarter. BlackRock Inc. now owns 2,007,410 shares of the software maker’s stock worth $117,414,000 after purchasing an additional 2,005,975 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its position in SPS Commerce by 57.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 1,347,002 shares of the software maker’s stock worth $81,628,000 after purchasing an additional 491,255 shares during the last quarter. BlackRock Fund Advisors boosted its position in SPS Commerce by 190.5% in the third quarter. BlackRock Fund Advisors now owns 1,139,531 shares of the software maker’s stock worth $83,653,000 after purchasing an additional 747,245 shares during the last quarter. Vanguard Group Inc. boosted its position in SPS Commerce by 7.1% in the second quarter. Vanguard Group Inc. now owns 963,631 shares of the software maker’s stock worth $61,441,000 after purchasing an additional 64,257 shares during the last quarter. Finally, Riverbridge Partners LLC boosted its position in SPS Commerce by 15.2% in the third quarter. Riverbridge Partners LLC now owns 938,277 shares of the software maker’s stock worth $68,879,000 after purchasing an additional 123,634 shares during the last quarter. 98.27% of the stock is currently owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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