SPS Commerce Inc. (SPSC) PT Raised to $83.00
SPS Commerce Inc. (NASDAQ:SPSC) had its price objective lifted by stock analysts at Needham & Company LLC from $70.00 to $83.00 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 13.68% from the company’s previous close.
Separately, Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. SPS Commerce currently has a consensus rating of “Buy” and an average target price of $77.29.
SPS Commerce (NASDAQ:SPSC) opened at 73.01 on Monday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 260.75 and a beta of 1.23. SPS Commerce has a 52 week low of $38.35 and a 52 week high of $78.29. The company has a 50-day moving average of $67.48 and a 200-day moving average of $56.72.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. SPS Commerce had a net margin of 2.73% and a return on equity of 3.84%. The firm earned $474 million during the quarter, compared to analysts’ expectations of $47.06 million. During the same period in the previous year, the company earned $0.18 earnings per share. SPS Commerce’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that SPS Commerce will post $0.98 earnings per share for the current year.
In other news, Director Michael A. Smerklo sold 580 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $67.40, for a total transaction of $39,092.00. Following the transaction, the director now directly owns 760 shares in the company, valued at $51,224. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Archie C. Black sold 10,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $63.38, for a total transaction of $633,800.00. Following the transaction, the chief executive officer now owns 78,600 shares in the company, valued at $4,981,668. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC purchased a new position in shares of SPS Commerce during the first quarter worth about $1,122,000. Granahan Investment Management Inc. MA raised its position in shares of SPS Commerce by 17.7% in the first quarter. Granahan Investment Management Inc. MA now owns 886,935 shares of the company’s stock worth $38,085,000 after buying an additional 133,406 shares during the period. HBK Investments L P purchased a new position in shares of SPS Commerce during the first quarter worth about $273,000. Bogle Investment Management L P DE purchased a new position in shares of SPS Commerce during the first quarter worth about $4,369,000. Finally, Geode Capital Management LLC raised its position in shares of SPS Commerce by 6.5% in the first quarter. Geode Capital Management LLC now owns 116,557 shares of the company’s stock worth $5,004,000 after buying an additional 7,082 shares during the period.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.
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