Needham & Company LLC Reiterates “Buy” Rating for SPS Commerce (NASDAQ:SPSC)

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They currently have a $230.00 price target on the software maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 23.09% from the stock’s current price.

Several other research analysts have also recently commented on SPSC. Stifel Nicolaus boosted their target price on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Piper Sandler initiated coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

SPS Commerce Stock Performance

SPSC stock opened at $186.85 on Friday. SPS Commerce has a one year low of $160.58 and a one year high of $218.74. The firm’s fifty day moving average is $186.00 and its 200 day moving average is $191.39. The firm has a market cap of $7.02 billion, a PE ratio of 89.40 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. Research analysts predict that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the sale, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Several institutional investors have recently made changes to their positions in the company. Pathstone Holdings LLC boosted its stake in SPS Commerce by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker’s stock valued at $3,820,000 after purchasing an additional 54 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in SPS Commerce by 4.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker’s stock valued at $256,000 after buying an additional 55 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of SPS Commerce by 5.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker’s stock worth $237,000 after purchasing an additional 58 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in SPS Commerce by 2.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker’s stock valued at $449,000 after purchasing an additional 62 shares during the last quarter. Finally, Signaturefd LLC boosted its position in SPS Commerce by 26.0% in the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after buying an additional 69 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.