SPS Commerce (NASDAQ:SPSC) Updates Q3 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.83-$0.84 for the period, compared to the consensus earnings per share estimate of $0.83. The company issued revenue guidance of $157.6-$158.6 million, compared to the consensus revenue estimate of $157.06 million. SPS Commerce also updated its FY 2024 guidance to 3.630-3.660 EPS.

SPS Commerce Stock Performance

Shares of SPSC traded up $3.38 during trading hours on Friday, hitting $209.00. 282,421 shares of the stock were exchanged, compared to its average volume of 181,473. SPS Commerce has a 12-month low of $151.96 and a 12-month high of $218.74. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 116.08 and a beta of 0.85. The stock’s 50-day moving average price is $191.89 and its two-hundred day moving average price is $185.90.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.35 by $0.20. The firm had revenue of $149.58 million during the quarter, compared to analysts’ expectations of $146.50 million. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. On average, research analysts expect that SPS Commerce will post 2.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Craig Hallum upped their target price on SPS Commerce from $210.00 to $230.00 and gave the company a buy rating in a report on Friday. Redburn Atlantic assumed coverage on SPS Commerce in a report on Tuesday, May 14th. They issued a buy rating and a $220.00 target price for the company. Robert W. Baird upped their target price on SPS Commerce from $178.00 to $186.00 and gave the company a neutral rating in a report on Friday. Stifel Nicolaus upped their target price on SPS Commerce from $200.00 to $225.00 and gave the company a buy rating in a report on Friday. Finally, Citigroup upped their target price on SPS Commerce from $213.00 to $222.00 and gave the company a buy rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $216.25.

Insider Buying and Selling

In related news, Director Philip Soran sold 2,390 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the transaction, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total value of $491,838.10. Following the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,273,341.30. Following the completion of the sale, the director now directly owns 14,728 shares in the company, valued at approximately $2,855,759.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,242 shares of company stock valued at $2,422,377. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Company Profile

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.