SPS Commerce (NASDAQ:SPSC) Releases FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.41-$3.42 for the period, compared to the consensus estimate of $3.36. The company issued revenue guidance of $635.4-$636.4 million, compared to the consensus revenue estimate of $631.31 million. SPS Commerce also updated its FY 2024 guidance to 3.410-3.420 EPS.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, July 26th. DA Davidson boosted their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $205.00 to $209.00 in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.25.

SPS Commerce Price Performance

Shares of SPSC stock traded up $1.23 during mid-day trading on Thursday, hitting $190.98. 187,671 shares of the stock traded hands, compared to its average volume of 177,663. The stock has a market cap of $7.09 billion, a P/E ratio of 98.83 and a beta of 0.82. The stock’s fifty day moving average is $193.36 and its two-hundred day moving average is $190.55. SPS Commerce has a 52-week low of $151.96 and a 52-week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to analyst estimates of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, equities analysts forecast that SPS Commerce will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other news, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the transaction, the director now owns 16,212 shares in the company, valued at $3,264,286.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.