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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a report on Friday, August 2nd. Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $205.00 to $209.00 in a report on Monday, July 29th. DA Davidson boosted their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Craig Hallum boosted their price objective on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $220.25.

SPS Commerce Price Performance

SPS Commerce stock traded up $1.23 during mid-day trading on Thursday, reaching $190.98. 187,671 shares of the company traded hands, compared to its average volume of 177,663. The firm’s 50 day moving average price is $193.36 and its 200 day moving average price is $190.55. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 98.83 and a beta of 0.82. SPS Commerce has a 52-week low of $151.96 and a 52-week 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 for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. During the same period in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts anticipate that SPS Commerce will post 2.32 EPS for the current year.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the sale, the director now directly owns 16,212 shares of the company’s stock, valued at approximately $3,264,286.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently 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.