SPS Commerce (NASDAQ:SPSC) Updates Q3 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.830-0.840 for the period, compared to the consensus earnings per share estimate of 0.830. The company issued revenue guidance of $157.6 million-$158.6 million, compared to the consensus revenue estimate of $157.0 million. SPS Commerce also updated its FY 2024 guidance to 3.630-3.660 EPS.

SPS Commerce Stock Up 0.1 %

NASDAQ SPSC traded up $0.26 on Thursday, hitting $205.62. The company’s stock had a trading volume of 294,713 shares, compared to its average volume of 180,762. SPS Commerce has a 1-year low of $151.96 and a 1-year high of $218.74. The company’s 50-day moving average is $191.70 and its 200 day moving average is $185.76. The firm has a market cap of $7.61 billion, a PE ratio of 113.27 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last posted 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 net margin of 12.23% and a return on equity of 12.06%. The company had revenue of $149.58 million for the quarter, compared to analyst estimates of $146.50 million. On average, equities analysts expect that SPS Commerce will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SPSC shares. Robert W. Baird upped their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the company a neutral rating in a research note on Friday, April 26th. Citigroup upped their price objective on shares of SPS Commerce from $213.00 to $222.00 and gave the company a buy rating in a research note on Friday, May 10th. William Blair reaffirmed a market perform rating on shares of SPS Commerce in a research note on Thursday, April 25th. Redburn Atlantic started coverage on shares of SPS Commerce in a research note on Tuesday, May 14th. They set a buy rating and a $220.00 target price on the stock. Finally, Needham & Company LLC reissued a buy rating and set a $205.00 target price on shares of SPS Commerce in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $200.29.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Philip Soran sold 2,390 shares of the firm’s 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 transaction, the director now directly owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip Soran sold 2,390 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.79, for a total transaction of $491,838.10. Following the transaction, the director now directly owns 18,852 shares of the company’s stock, valued at $3,879,553.08. The disclosure for this sale can be found here. Over the last three months, insiders have 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.