SPS Commerce (NASDAQ:SPSC) Issues FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.630-3.660 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of $624.2 million-$626.0 million, compared to the consensus revenue estimate of $623.5 million. SPS Commerce also updated its FY24 guidance to $3.63-$3.66 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SPSC. Redburn Atlantic began coverage on SPS Commerce in a research report on Tuesday, May 14th. They issued a buy rating and a $220.00 target price on the stock. Robert W. Baird increased their target price on SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a research report on Friday, April 26th. Needham & Company LLC reissued a buy rating and issued a $205.00 price objective on shares of SPS Commerce in a research report on Friday, May 10th. Citigroup raised their price objective on SPS Commerce from $213.00 to $222.00 and gave the company a buy rating in a research report on Friday, May 10th. Finally, William Blair reissued a market perform rating on shares of SPS Commerce in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $200.29.

SPS Commerce Stock Up 0.1 %

Shares of SPS Commerce stock traded up $0.26 during trading hours on Thursday, hitting $205.62. 294,713 shares of the company’s stock traded hands, compared to its average volume of 180,762. The stock has a 50 day simple moving average of $191.70 and a 200-day simple moving average of $185.76. The company has a market cap of $7.61 billion, a PE ratio of 113.27 and a beta of 0.85. SPS Commerce has a twelve month low of $151.96 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $149.58 million during the quarter, compared to the consensus estimate of $146.50 million. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. As a group, equities research analysts predict that SPS Commerce will post 2.23 EPS for the current year.

Insider Activity

In related news, Director James Burr Ramsey sold 6,567 shares of SPS Commerce stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total value of $1,273,341.30. Following the completion of the transaction, the director now directly owns 14,728 shares in the company, valued at $2,855,759.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Philip Soran sold 2,390 shares of SPS Commerce 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 completion of the transaction, the director now directly owns 18,852 shares in the company, valued at $3,879,553.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Burr Ramsey sold 6,567 shares of SPS Commerce stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total value of $1,273,341.30. Following the completion of the transaction, the director now owns 14,728 shares of the company’s stock, valued at $2,855,759.20. The disclosure for this sale can be found here. Insiders sold 12,242 shares of company stock worth $2,422,377 over the last ninety days. 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.