The SPS Commerce Inc. (SPSC) Receives $79.50 Average Price Target from Brokerages

The SPS Commerce Inc. (SPSC) Receives $79.50 Average Price Target from Brokerages

Shares of SPS Commerce Inc. (NASDAQ:SPSC) have earned an average rating of “Buy” from the nine analysts that are currently covering the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $79.50.

Several research firms recently commented on SPSC. Pacific Crest began coverage on shares of SPS Commerce in a research note on Thursday, September 29th. They set an “overweight” rating and a $85.00 price objective on the stock. Zacks Investment Research lowered shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. First Analysis began coverage on shares of SPS Commerce in a research note on Monday, September 26th. They set an “overweight” rating and a $86.00 price objective on the stock. Finally, Needham & Company LLC boosted their price objective on shares of SPS Commerce from $70.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, September 26th.

SPS Commerce (NASDAQ:SPSC) opened at 70.06 on Tuesday. The company has a market capitalization of $1.19 billion, a P/E ratio of 250.21 and a beta of 1.17. SPS Commerce has a 52-week low of $38.35 and a 52-week high of $77.19. The stock’s 50 day moving average is $69.64 and its 200-day moving average is $59.07.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. SPS Commerce had a net margin of 2.73% and a return on equity of 3.84%. The business had revenue of $474 million for the quarter, compared to analyst estimates of $47.06 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. SPS Commerce’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts predict that SPS Commerce will post $0.98 EPS for the current fiscal year.

In other news, Director Michael A. Smerklo sold 580 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $67.40, for a total value of $39,092.00. Following the sale, the director now owns 760 shares of the company’s stock, valued at $51,224. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Archie C. Black sold 10,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $63.38, for a total transaction of $633,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,600 shares in the company, valued at approximately $4,981,668. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Columbia Wanger Asset Management LLC increased its position in SPS Commerce by 57.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 1,347,002 shares of the company’s stock valued at $81,628,000 after buying an additional 491,255 shares in the last quarter. Janus Capital Management LLC increased its position in SPS Commerce by 24.9% in the second quarter. Janus Capital Management LLC now owns 867,410 shares of the company’s stock valued at $52,565,000 after buying an additional 172,907 shares in the last quarter. Weatherbie Capital LLC increased its position in SPS Commerce by 105.6% in the second quarter. Weatherbie Capital LLC now owns 311,041 shares of the company’s stock valued at $18,849,000 after buying an additional 159,754 shares in the last quarter. Citadel Advisors LLC increased its position in SPS Commerce by 122.6% in the second quarter. Citadel Advisors LLC now owns 253,037 shares of the company’s stock valued at $15,334,000 after buying an additional 139,389 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in SPS Commerce by 17.7% in the first quarter. Granahan Investment Management Inc. MA now owns 886,935 shares of the company’s stock valued at $38,085,000 after buying an additional 133,406 shares in the last quarter.

Related posts

Leave a Comment