SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.28-3.32 for the period, compared to the consensus earnings per share 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 Performance

Shares of NASDAQ:SPSC traded up $9.53 during trading hours on Friday, hitting $178.96. The stock had a trading volume of 369,697 shares, compared to its average volume of 180,762. The stock’s fifty day simple moving average is $178.97 and its 200 day simple moving average is $179.08. 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.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. As a group, research analysts anticipate that SPS Commerce will post 2.13 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SPSC. Robert W. Baird upped their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a report on Friday. Citigroup assumed 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 for the company. Needham & Company LLC reiterated a buy rating and set a $205.00 price objective on shares of SPS Commerce in a research note on Friday. Finally, StockNews.com downgraded SPS Commerce from a buy rating to a hold rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, SPS Commerce currently has a consensus rating of Moderate Buy and a consensus target price of $196.57.

Insider Buying and Selling

In related news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total value of $2,310,032.50. Following the transaction, the director now directly owns 89,940 shares in the company, valued at approximately $16,137,034.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Archie C. Black sold 12,875 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the sale, the director now directly owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The disclosure for this sale can be found here. Over the last ninety days, 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.