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 $3.63-$3.66 for the period, compared to the consensus EPS estimate of $3.33. The company issued revenue guidance of $624.2-$626.0 million, compared to the consensus revenue estimate of $623.61 million. SPS Commerce also updated its FY 2024 guidance to 3.630-3.660 EPS.

SPS Commerce Price Performance

Shares of NASDAQ SPSC traded up $3.38 on Friday, hitting $209.00. The company’s stock had a trading volume of 282,421 shares, compared to its average volume of 181,473. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 116.08 and a beta of 0.85. SPS Commerce has a 12-month low of $151.96 and a 12-month high of $218.74. The stock has a 50 day moving average of $191.89 and a 200-day moving average of $185.90.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $149.58 million for the quarter, compared to analysts’ expectations of $146.50 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. Sell-side analysts expect that SPS Commerce will post 2.23 EPS for the current fiscal year.

Analysts Set New Price Targets

SPSC has been the topic of several recent research reports. Needham & Company LLC lifted their price objective on shares of SPS Commerce from $205.00 to $230.00 and gave the stock a buy rating in a research note on Friday. DA Davidson upped their price target on SPS Commerce from $225.00 to $240.00 and gave the stock a buy rating in a research note on Friday. Robert W. Baird increased their price objective on SPS Commerce from $178.00 to $186.00 and gave the company a neutral rating in a research report on Friday. Craig Hallum lifted their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a buy rating in a research note on Friday. Finally, William Blair reaffirmed a market perform rating on shares of SPS Commerce in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $216.25.

Insiders Place Their Bets

In related news, Director Philip Soran sold 2,390 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total value of $491,838.10. Following the completion of the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SPS Commerce news, Director Philip Soran sold 2,390 shares of SPS Commerce stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total value of $491,838.10. Following the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Burr Ramsey sold 6,567 shares of SPS Commerce stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the sale, the director now directly owns 14,728 shares in the company, valued at approximately $2,855,759.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,242 shares of company stock valued at $2,422,377. Corporate insiders own 1.00% of the company’s stock.

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.