Zacks Investment Research upgraded shares of SPS Commerce, Inc. (NASDAQ:SPSC) from a hold rating to a buy rating in a research report report published on Wednesday, August 2nd. The firm currently has $65.00 price objective on the software maker’s stock.
According to Zacks, “SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to its customers worldwide. The Company delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The Company’s delivery model also enables it to offer greater functionality, integration and reliability with less cost and risk than traditional solutions. The Company provides its solutions through SPSCommerce.net, a hosted software. SPSCommerce.net uses pre-built integrations to eliminate the need for on-premise software and support staff, which enables its supplier customers to shorten supply cycle times, optimize inventory levels, reduce costs and satisfy retailer requirements. SPS Commerce is headquartered in Minneapolis. “
SPSC has been the subject of a number of other research reports. BidaskClub lowered shares of SPS Commerce from a hold rating to a sell rating in a research note on Friday, July 28th. Canaccord Genuity reiterated a hold rating and issued a $65.00 target price on shares of SPS Commerce in a research note on Wednesday, July 26th. Benchmark Co. lowered shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, April 21st. CIBC began coverage on shares of SPS Commerce in a research note on Friday, July 21st. They issued an outperform rating and a $74.00 target price for the company. Finally, Oppenheimer Holdings, Inc. set a $74.00 target price on shares of SPS Commerce and gave the stock a buy rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $75.50.
SPS Commerce (SPSC) opened at 57.37 on Wednesday. SPS Commerce has a one year low of $48.11 and a one year high of $74.85. The firm has a market cap of $987.97 million, a PE ratio of 108.45 and a beta of 1.20. The company’s 50-day moving average is $60.12 and its 200 day moving average is $59.17.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. The business had revenue of $54.30 million during the quarter, compared to analyst estimates of $53.74 million. SPS Commerce had a net margin of 4.41% and a return on equity of 4.70%. SPS Commerce’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. Equities analysts anticipate that SPS Commerce will post $0.88 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of SPSC. Simplex Trading LLC bought a new position in shares of SPS Commerce during the first quarter worth $110,000. State of Alaska Department of Revenue increased its position in shares of SPS Commerce by 3.3% in the first quarter. State of Alaska Department of Revenue now owns 1,900 shares of the software maker’s stock worth $111,000 after buying an additional 60 shares during the period. Victory Capital Management Inc. increased its position in shares of SPS Commerce by 83.4% in the first quarter. Victory Capital Management Inc. now owns 2,003 shares of the software maker’s stock worth $117,000 after buying an additional 911 shares during the period. Riverhead Capital Management LLC increased its position in shares of SPS Commerce by 113.1% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock worth $136,000 after buying an additional 1,131 shares during the period. Finally, Pinebridge Investments L.P. increased its position in shares of SPS Commerce by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock worth $145,000 after buying an additional 24 shares during the period. 97.65% of the stock is currently owned by institutional investors.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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