SPS Commerce (NASDAQ:SPSC) Updates Q3 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.830-0.840 for the period, compared to the consensus earnings per share estimate of 0.830. The company issued revenue guidance of $157.6 million-$158.6 million, compared to the consensus revenue estimate of $157.0 million. SPS Commerce also updated its FY 2024 guidance to 3.630-3.660 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPSC. Craig Hallum increased their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a buy rating in a report on Friday. Robert W. Baird increased their target price on shares of SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a report on Friday. Citigroup increased their price objective on shares of SPS Commerce from $213.00 to $222.00 and gave the stock a buy rating in a research report on Friday, May 10th. William Blair reissued a market perform rating on shares of SPS Commerce in a research report on Thursday, April 25th. Finally, Redburn Atlantic began coverage on shares of SPS Commerce in a research report on Tuesday, May 14th. They set a buy rating and a $220.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce has a consensus rating of Moderate Buy and an average price target of $216.25.

SPS Commerce Stock Performance

SPS Commerce stock traded up $3.38 during mid-day trading on Friday, reaching $209.00. The company’s stock had a trading volume of 282,421 shares, compared to its average volume of 181,473. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 116.08 and a beta of 0.85. SPS Commerce has a 12 month low of $151.96 and a 12 month high of $218.74. The business’s 50 day simple moving average is $191.89 and its 200 day simple moving average is $185.90.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. The firm had revenue of $149.58 million during the quarter, compared to analysts’ expectations of $146.50 million. As a group, sell-side analysts expect that SPS Commerce will post 2.23 EPS for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the sale, the director now directly owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Philip Soran sold 3,285 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.06, for a total value of $657,197.10. Following the completion of the sale, the director now owns 18,852 shares in the company, valued at approximately $3,771,531.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the transaction, the director now owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,242 shares of company stock valued at $2,422,377. 1.00% of the stock is owned by insiders.

About SPS Commerce

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.