SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.63-$3.66 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SPSC. Redburn Atlantic began coverage on SPS Commerce in a report on Tuesday, May 14th. They issued a buy rating and a $220.00 price objective for the company. Craig Hallum increased their price objective on SPS Commerce from $210.00 to $230.00 and gave the stock a buy rating in a report on Friday. Stifel Nicolaus increased their price objective on SPS Commerce from $200.00 to $225.00 and gave the stock a buy rating in a report on Friday. Needham & Company LLC increased their price target on SPS Commerce from $205.00 to $230.00 and gave the company a buy rating in a research note on Friday. Finally, Citigroup increased their price target on SPS Commerce from $213.00 to $222.00 and gave the company a buy rating in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $216.25.

SPS Commerce Stock Up 1.6 %

NASDAQ SPSC traded up $3.38 on Friday, reaching $209.00. 282,421 shares of the stock traded hands, compared to its average volume of 181,473. SPS Commerce has a 12 month low of $151.96 and a 12 month high of $218.74. The firm’s fifty day simple moving average is $191.89 and its 200 day simple moving average is $185.90. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 116.08 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, April 25th. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. The company had revenue of $149.58 million during the quarter, compared to the consensus estimate of $146.50 million. As a group, equities research analysts forecast that SPS Commerce will post 2.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Philip Soran sold 2,390 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $205.79, for a total transaction of $491,838.10. Following the completion of the sale, the director now owns 18,852 shares in the company, valued at approximately $3,879,553.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total value of $1,273,341.30. Following the completion of the sale, the director now owns 14,728 shares in the company, valued at $2,855,759.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Soran sold 2,390 shares of the stock in a transaction 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 sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,879,553.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,242 shares of company stock worth $2,422,377. 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.