SPS Commerce (NASDAQ:SPSC) Releases Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.75-0.76 for the period, compared to the consensus estimate of $0.76. The company issued revenue guidance of $150.9-151.7 million, compared to the consensus revenue estimate of $151.18 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SPSC shares. Robert W. Baird increased their target price on shares of SPS Commerce from $172.00 to $178.00 and gave the company a neutral rating in a research report on Friday. StockNews.com downgraded shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Needham & Company LLC reiterated a buy rating and set a $205.00 price objective on shares of SPS Commerce in a research note on Friday. Finally, Citigroup initiated coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $196.57.

SPS Commerce Stock Performance

NASDAQ:SPSC traded up $9.53 during mid-day trading on Friday, reaching $178.96. The stock had a trading volume of 369,697 shares, compared to its average volume of 180,762. SPS Commerce has a one year low of $140.00 and a one year high of $218.74. The firm has a 50 day moving average price of $178.97 and a two-hundred day moving average price of $179.08. The stock has a market capitalization of $6.64 billion, a P/E ratio of 97.79 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. The company had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. Research analysts forecast that SPS Commerce will post 2.13 earnings per share for the current year.

Insider Activity

In other SPS Commerce news, CFO Kimberly K. Nelson sold 12,907 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.41, for a total value of $2,315,644.87. Following the completion of the sale, the chief financial officer now owns 157,251 shares in the company, valued at $28,212,401.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares in the company, valued at $3,102,631.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kimberly K. Nelson sold 12,907 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.41, for a total transaction of $2,315,644.87. Following the completion of the transaction, the chief financial officer now owns 157,251 shares of the company’s stock, valued at $28,212,401.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,688 shares of company stock valued at $12,122,275. 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.