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

SPS Commerce (NASDAQ:SPSC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.410-3.420 for the period, compared to the consensus estimate of 3.360. The company issued revenue guidance of $635.4 million-$636.4 million, compared to the consensus revenue estimate of $631.3 million. SPS Commerce also updated its FY24 guidance to $3.41-$3.42 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $205.00 to $209.00 in a research report on Monday, July 29th. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Friday, August 2nd. DA Davidson upped their target price on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus upped their target price on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $220.25.

SPS Commerce Stock Performance

Shares of SPSC traded up $1.23 during trading hours on Thursday, reaching $190.98. The stock had a trading volume of 187,783 shares, compared to its average volume of 177,664. SPS Commerce has a 12 month low of $151.96 and a 12 month high of $218.74. The stock has a market capitalization of $7.09 billion, a PE ratio of 98.83 and a beta of 0.82. The company’s 50-day moving average is $193.36 and its two-hundred day moving average is $190.55.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. SPS Commerce’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Equities analysts anticipate that SPS Commerce will post 2.32 earnings per share for the current fiscal year.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the sale, the director now directly owns 16,212 shares in the company, valued at $3,264,286.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company 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.