SPS Commerce (NASDAQ:SPSC) Releases FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.41-$3.42 for the period, compared to the consensus 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.

SPS Commerce Price Performance

Shares of SPSC stock traded up $1.23 during trading on Thursday, reaching $190.98. The company had a trading volume of 200,494 shares, compared to its average volume of 177,664. The firm’s 50 day simple moving average is $193.22 and its two-hundred day simple moving average is $190.55. SPS Commerce has a one year low of $151.96 and a one year high of $218.74. The company has a market capitalization of $7.09 billion, a PE ratio of 99.47 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last issued 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. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The business had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. During the same period last year, the business earned $0.42 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Analysts forecast that SPS Commerce will post 2.32 earnings per share for the current year.

Analysts Set New Price Targets

SPSC has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price target on SPS Commerce from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $205.00 to $209.00 in a research report on Monday, July 29th. Robert W. Baird lifted their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. DA Davidson lifted their price target on SPS Commerce from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.25.

Insider Transactions at SPS Commerce

In other news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction that occurred 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 owns 16,212 shares of the company’s stock, valued at approximately $3,264,286.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

SPS Commerce Company Profile

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.