SPS Commerce (NASDAQ:SPSC) Releases Q2 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.750-0.760 for the period, compared to the consensus estimate of 0.760. The company issued revenue guidance of $150.9 million-$151.7 million, compared to the consensus revenue estimate of $151.2 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

Analysts Set New Price Targets

SPSC has been the topic of a number of research analyst reports. StockNews.com lowered shares of SPS Commerce from a buy rating to a hold rating in a research report on Friday, March 15th. Citigroup initiated coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They issued a buy rating and a $216.00 target price on the stock. Finally, Needham & Company LLC restated a buy rating and issued a $205.00 target price on shares of SPS Commerce in a research report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $199.67.

SPS Commerce Stock Down 1.0 %

SPSC traded down $1.69 during midday trading on Thursday, hitting $169.43. The company had a trading volume of 224,409 shares, compared to its average volume of 174,368. SPS Commerce has a 52 week low of $140.00 and a 52 week high of $218.74. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 95.76 and a beta of 0.79. The stock’s 50 day moving average price is $179.79 and its 200 day moving average price is $179.11.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. SPS Commerce had a net margin of 12.26% and a return on equity of 12.18%. The firm had revenue of $144.97 million during the quarter, compared to the consensus estimate of $143.05 million. Research analysts predict that SPS Commerce will post 2.13 EPS for the current year.

Insider Transactions at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 5,965 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total transaction of $1,092,609.05. Following the completion of the sale, the chief financial officer now directly owns 147,553 shares of the company’s stock, valued at $27,027,283.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Archie C. Black sold 12,875 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the sale, the director now directly owns 89,940 shares in the company, valued at approximately $16,137,034.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kimberly K. Nelson sold 5,965 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $183.17, for a total transaction of $1,092,609.05. Following the sale, the chief financial officer now directly owns 147,553 shares in the company, valued at approximately $27,027,283.01. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock valued at $12,122,275 over the last three months. Corporate 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.