SPS Commerce (NASDAQ:SPSC) Releases FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.28-3.32 for the period, compared to the consensus estimate of $3.16. The company issued revenue guidance of $619.9-621.9 million, compared to the consensus revenue estimate of $618.91 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

SPS Commerce Stock Up 5.6 %

SPSC traded up $9.53 during trading on Friday, reaching $178.96. The stock had a trading volume of 369,697 shares, compared to its average volume of 180,762. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. SPS Commerce has a 1-year low of $140.00 and a 1-year high of $218.74. The stock has a 50 day moving average of $178.97 and a two-hundred day moving average of $179.08.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $144.97 million during the quarter, compared to the consensus estimate of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. On average, research analysts forecast that SPS Commerce will post 2.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on SPSC. StockNews.com cut SPS Commerce from a buy rating to a hold rating in a report on Friday, March 15th. Needham & Company LLC reaffirmed a buy rating and issued a $205.00 price target on shares of SPS Commerce in a research note on Friday. Citigroup began coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 price target on the stock. Finally, Robert W. Baird upped their price target on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $196.57.

Insider Buying and Selling

In related news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the sale, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the sale, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James J. Frome sold 2,901 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total transaction of $531,811.32. Following the completion of the sale, the chief operating officer now owns 54,029 shares of the company’s stock, valued at $9,904,596.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,688 shares of company stock worth $12,122,275. Corporate insiders own 1.00% of the company’s stock.

About SPS Commerce

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.