SPS Commerce, Inc. (NASDAQ:SPSC) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.
Several other research analysts have also issued reports on SPSC. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of SPS Commerce in a research report on Tuesday, August 8th. Zacks Investment Research raised SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Wednesday, August 2nd. Canaccord Genuity reissued a “hold” rating and issued a $65.00 target price on shares of SPS Commerce in a research report on Wednesday, July 26th. Northland Securities set a $84.00 target price on SPS Commerce and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, CIBC assumed coverage on SPS Commerce in a research report on Friday, July 21st. They issued an “outperform” rating and a $74.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $75.50.
Shares of SPS Commerce (NASDAQ SPSC) opened at 58.55 on Wednesday. SPS Commerce has a 12-month low of $48.11 and a 12-month high of $74.85. The company has a market cap of $1.01 billion, a P/E ratio of 110.68 and a beta of 1.20. The stock’s 50 day moving average price is $59.55 and its 200 day moving average price is $58.82.
SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, July 27th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. SPS Commerce had a return on equity of 4.70% and a net margin of 4.41%. The firm had revenue of $54.30 million during the quarter, compared to analyst estimates of $53.74 million. During the same quarter in the prior year, the company earned $0.15 EPS. The business’s revenue was up 14.6% compared to the same quarter last year. On average, analysts forecast that SPS Commerce will post $0.88 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPSC. Simplex Trading LLC bought a new position in SPS Commerce during the first quarter worth $110,000. State of Alaska Department of Revenue raised its position in 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. raised its position in 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 raised its position in 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. raised its position in 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. 97.36% of the stock is 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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