SPS Commerce (NASDAQ:SPSC) Issues FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.630-3.660 for the period, compared to the consensus estimate of 3.330. The company issued revenue guidance of $624.2 million-$626.0 million, compared to the consensus revenue estimate of $623.5 million. SPS Commerce also updated its FY24 guidance to $3.63-$3.66 EPS.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SPSC. William Blair reissued a market perform rating on shares of SPS Commerce in a research note on Thursday, April 25th. Robert W. Baird upped their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a neutral rating in a research note on Friday. Stifel Nicolaus upped their price target on SPS Commerce from $200.00 to $225.00 and gave the stock a buy rating in a research note on Friday. Needham & Company LLC upped their price target on SPS Commerce from $205.00 to $230.00 and gave the stock a buy rating in a research note on Friday. Finally, Craig Hallum upped their price target on SPS Commerce from $210.00 to $230.00 and gave the stock a buy rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $216.25.

SPS Commerce Stock Performance

Shares of NASDAQ:SPSC traded up $3.38 during midday trading on Friday, reaching $209.00. 282,421 shares of the company’s stock traded hands, compared to its average volume of 181,473. 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 has a one year low of $151.96 and a one year 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 earnings results on Thursday, April 25th. The software maker reported $0.55 earnings per share 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 for the quarter, compared to the consensus estimate of $146.50 million. Sell-side analysts predict that SPS Commerce will post 2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Philip Soran sold 2,390 shares of the stock in a transaction dated 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 $3,879,553.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Burr Ramsey sold 6,567 shares of the stock in a transaction dated 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 sale, the director now owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The disclosure for this sale can be found here. Insiders sold a total of 12,242 shares of company stock worth $2,422,377 over the last quarter. 1.00% of the stock is currently owned by corporate 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.