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

SPS Commerce (NASDAQ:SPSC) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 Upgrades and Downgrades

SPSC has been the subject of a number of recent analyst reports. Northland Securities cut shares of SPS Commerce from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $205.00 to $209.00 in a research report on Monday, July 29th. Craig Hallum boosted their price objective on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Northland Capmk lowered SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. DA Davidson upped their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Robert W. Baird raised their price objective on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” 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. Based on data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average target price of $223.38.

SPS Commerce Trading Down 10.7 %

Shares of SPS Commerce stock traded down $20.49 on Friday, reaching $170.49. 636,500 shares of the company were exchanged, compared to its average volume of 179,940. SPS Commerce has a one year low of $151.96 and a one year high of $218.74. The company has a 50-day moving average of $192.69 and a 200 day moving average of $190.51. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 88.80 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.87 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. Analysts predict that SPS Commerce will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In other 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 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 transaction 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.