SPS Commerce, Inc. (NASDAQ:SPSC) had its price objective reduced by analysts at Canaccord Genuity from $65.00 to $62.00 in a report released on Friday. The firm currently has a “hold” rating on the software maker’s stock. Canaccord Genuity’s target price points to a potential upside of 27.26% from the stock’s previous close.
SPSC has been the topic of several other reports. BidaskClub downgraded SPS Commerce from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Oppenheimer Holdings, Inc. reduced their target price on SPS Commerce from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday. CIBC assumed coverage on SPS Commerce in a report on Friday, July 21st. They issued an “outperform” rating and a $74.00 target price on the stock. Finally, Northland Securities set a $84.00 target price on SPS Commerce and gave the stock a “buy” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.78.
Shares of SPS Commerce (SPSC) traded down 8.97% during trading on Friday, hitting $48.72. The company had a trading volume of 750,191 shares. The stock has a market capitalization of $839.01 million, a price-to-earnings ratio of 92.10 and a beta of 1.13. The stock has a 50-day moving average of $57.59 and a 200 day moving average of $58.97. SPS Commerce has a 12-month low of $48.11 and a 12-month high of $73.16.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. SPS Commerce had a return on equity of 4.32% and a net margin of 3.97%. The business had revenue of $56.15 million for the quarter, compared to the consensus estimate of $56.15 million. During the same period in the previous year, the business earned $0.27 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. On average, analysts predict that SPS Commerce will post $0.88 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of SPS Commerce by 139,789.2% in the first quarter. BlackRock Inc. now owns 2,007,410 shares of the software maker’s stock worth $117,414,000 after purchasing an additional 2,005,975 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of SPS Commerce by 7.1% in the second quarter. Vanguard Group Inc. now owns 963,631 shares of the software maker’s stock worth $61,441,000 after purchasing an additional 64,257 shares during the last quarter. FMR LLC increased its stake in SPS Commerce by 33.6% during the first quarter. FMR LLC now owns 850,300 shares of the software maker’s stock worth $49,734,000 after acquiring an additional 214,000 shares during the last quarter. Southpoint Capital Advisors LP increased its stake in SPS Commerce by 88.0% during the second quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the software maker’s stock worth $47,820,000 after acquiring an additional 351,103 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in SPS Commerce during the second quarter worth approximately $41,711,000. 98.27% of the stock is currently owned by hedge funds and other 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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