SPS Commerce, Inc. (SPSC) Expected to Announce Quarterly Sales of $57.47 Million
Equities research analysts predict that SPS Commerce, Inc. (NASDAQ:SPSC) will report sales of $57.47 million for the current quarter, according to Zacks. Six analysts have made estimates for SPS Commerce’s earnings, with the highest sales estimate coming in at $57.50 million and the lowest estimate coming in at $57.40 million. SPS Commerce reported sales of $51.06 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The firm is expected to announce its next earnings report on Tuesday, February 6th.
On average, analysts expect that SPS Commerce will report full year sales of $57.47 million for the current year, with estimates ranging from $219.70 million to $219.90 million. For the next financial year, analysts expect that the business will post sales of $243.86 million per share, with estimates ranging from $241.50 million to $247.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover SPS Commerce.
SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. SPS Commerce had a net margin of 3.97% and a return on equity of 4.25%. The company had revenue of $56.15 million during the quarter, compared to analysts’ expectations of $56.15 million. During the same period last year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new stake in SPS Commerce during the second quarter worth approximately $41,711,000. Capital World Investors acquired a new stake in SPS Commerce during the second quarter worth approximately $28,879,000. Southpoint Capital Advisors LP boosted its position in SPS Commerce by 88.0% during the second quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the software maker’s stock worth $47,820,000 after acquiring an additional 351,103 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. boosted its position in SPS Commerce by 50.3% during the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 765,318 shares of the software maker’s stock worth $43,401,000 after acquiring an additional 256,117 shares during the last quarter. Finally, Banbury Partners LLC boosted its position in SPS Commerce by 27.0% during the second quarter. Banbury Partners LLC now owns 483,193 shares of the software maker’s stock worth $30,808,000 after acquiring an additional 102,720 shares during the last quarter. Institutional investors and hedge funds own 97.45% of the company’s stock.
SPS Commerce (NASDAQ:SPSC) opened at $47.86 on Wednesday. SPS Commerce has a 1-year low of $45.02 and a 1-year high of $73.16. The stock has a market cap of $826.59, a PE ratio of 72.71, a price-to-earnings-growth ratio of 3.24 and a beta of 1.07.
SPS Commerce announced that its board has approved a stock repurchase plan on Thursday, November 2nd that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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.
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