SPS Commerce Inc. (NASDAQ:SPSC) had its price target upped by Needham & Company LLC from $70.00 to $83.00 in a research note issued to investors on Monday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 13.68% from the stock’s current price.
Separately, Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. SPS Commerce currently has a consensus rating of “Buy” and an average target price of $77.29.
Shares of SPS Commerce (NASDAQ:SPSC) opened at 73.01 on Monday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 260.75 and a beta of 1.23. The stock has a 50 day moving average of $67.48 and a 200 day moving average of $56.72. SPS Commerce has a 52-week low of $38.35 and a 52-week high of $78.29.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. SPS Commerce had a net margin of 2.73% and a return on equity of 3.84%. The company had revenue of $474 million for the quarter, compared to the consensus estimate of $47.06 million. During the same period last year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts predict that SPS Commerce will post $0.98 EPS for the current fiscal year.
In other SPS Commerce news, Director Michael A. Smerklo sold 580 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $67.40, for a total transaction of $39,092.00. Following the sale, the director now directly owns 760 shares in the company, valued at approximately $51,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Archie C. Black sold 10,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $63.38, for a total transaction of $633,800.00. Following the sale, the chief executive officer now owns 78,600 shares in the company, valued at $4,981,668. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Columbia Wanger Asset Management LLC increased its stake in SPS Commerce by 57.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 1,347,002 shares of the company’s stock worth $81,628,000 after buying an additional 491,255 shares during the period. Granahan Investment Management Inc. MA increased its stake in SPS Commerce by 17.7% in the first quarter. Granahan Investment Management Inc. MA now owns 886,935 shares of the company’s stock worth $38,085,000 after buying an additional 133,406 shares during the period. Janus Capital Management LLC increased its stake in SPS Commerce by 24.9% in the second quarter. Janus Capital Management LLC now owns 867,410 shares of the company’s stock worth $52,565,000 after buying an additional 172,907 shares during the period. Riverbridge Partners LLC increased its stake in SPS Commerce by 5.5% in the second quarter. Riverbridge Partners LLC now owns 814,643 shares of the company’s stock worth $49,367,000 after buying an additional 42,687 shares during the period. Finally, Vanguard Group Inc. increased its stake in SPS Commerce by 5.0% in the second quarter. Vanguard Group Inc. now owns 673,036 shares of the company’s stock worth $40,786,000 after buying an additional 32,278 shares during the period.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.
Receive News & Ratings for SPS Commerce Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPS Commerce Inc. and related companies with MarketBeat.com's FREE daily email newsletter.