SPS Commerce (NASDAQ:SPSC) Issues FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.41-$3.42 for the period, compared to the consensus EPS estimate of $3.36. The company issued revenue guidance of $635.4-$636.4 million, compared to the consensus revenue estimate of $631.31 million. SPS Commerce also updated its FY 2024 guidance to 3.410-3.420 EPS.

SPS Commerce Trading Up 0.6 %

NASDAQ:SPSC traded up $1.23 during mid-day trading on Thursday, reaching $190.98. 200,494 shares of the stock were exchanged, compared to its average volume of 177,664. The business has a fifty day moving average price of $193.22 and a 200 day moving average price of $190.55. The firm has a market capitalization of $7.09 billion, a PE ratio of 99.47 and a beta of 0.82. SPS Commerce has a 1-year low of $151.96 and a 1-year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.87 million. During the same period in the previous year, the company earned $0.42 earnings per share. SPS Commerce’s revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts forecast that SPS Commerce will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPSC has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Northland Securities lowered SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price target for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Craig Hallum increased their price target on SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus increased their price target on SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.25.

Insiders Place Their Bets

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the sale, the director now directly owns 16,212 shares in the company, valued at approximately $3,264,286.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.