SPS Commerce Inc. (SPSC) Given Consensus Recommendation of “Buy” by Brokerages
SPS Commerce Inc. (NASDAQ:SPSC) has received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $79.50.
SPSC has been the topic of a number of analyst reports. Zacks Investment Research lowered SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Needham & Company LLC increased their price objective on SPS Commerce from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Pacific Crest initiated coverage on SPS Commerce in a report on Thursday, September 29th. They set an “overweight” rating and a $85.00 price objective on the stock. Finally, First Analysis initiated coverage on SPS Commerce in a report on Monday, September 26th. They set an “overweight” rating and a $86.00 price objective on the stock.
In other SPS Commerce news, Director Michael A. Smerklo sold 580 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $67.40, for a total value of $39,092.00. Following the completion of the sale, the director now owns 760 shares in the company, valued at approximately $51,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Archie C. Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $65.32, for a total value of $653,200.00. Following the completion of the sale, the chief executive officer now owns 77,152 shares of the company’s stock, valued at approximately $5,039,568.64. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. purchased a new stake in shares of SPS Commerce during the first quarter worth approximately $1,492,000. Brown Advisory Inc. increased its stake in shares of SPS Commerce by 5.8% in the second quarter. Brown Advisory Inc. now owns 387,844 shares of the company’s stock worth $23,503,000 after buying an additional 21,098 shares in the last quarter. BlackRock Group LTD increased its stake in shares of SPS Commerce by 10.5% in the first quarter. BlackRock Group LTD now owns 78,769 shares of the company’s stock worth $3,383,000 after buying an additional 7,496 shares in the last quarter. HBK Investments L P purchased a new stake in shares of SPS Commerce during the first quarter worth approximately $273,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of SPS Commerce by 265.6% in the third quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the company’s stock worth $171,000 after buying an additional 1,697 shares in the last quarter.
SPS Commerce (NASDAQ:SPSC) traded down 2.78% during midday trading on Tuesday, hitting $70.57. The company had a trading volume of 28,406 shares. The company has a market cap of $1.20 billion, a P/E ratio of 252.04 and a beta of 1.17. SPS Commerce has a one year low of $38.35 and a one year high of $77.86. The company’s 50 day moving average is $69.30 and its 200-day moving average is $58.82.
SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. SPS Commerce had a return on equity of 3.84% and a net margin of 2.73%. The company had revenue of $474 million for the quarter, compared to analyst estimates of $47.06 million. During the same period in the prior year, the firm posted $0.18 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts predict that SPS Commerce will post $0.98 EPS for the current year.
About SPS Commerce
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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