Brokerages Set SPS Commerce Inc. (SPSC) Price Target at $78.43
SPS Commerce Inc. (NASDAQ:SPSC) has been given an average rating of “Buy” by the nine brokerages that are covering the stock. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $78.43.
SPSC has been the subject of a number of research reports. Zacks Investment Research lowered SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. First Analysis initiated coverage on SPS Commerce in a report on Monday, September 26th. They issued an “overweight” rating and a $86.00 price target for the company. Needham & Company LLC boosted their price target on SPS Commerce from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday, September 26th. Finally, Pacific Crest initiated coverage on SPS Commerce in a report on Thursday, September 29th. They issued an “overweight” rating and a $85.00 price target for the company.
In other news, Director Michael A. Smerklo sold 580 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $67.40, for a total transaction 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Archie C. Black sold 10,000 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $65.32, for a total value of $653,200.00. Following 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. Insiders own 2.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. BlackRock Fund Advisors raised its stake in shares of SPS Commerce by 190.5% in the third quarter. BlackRock Fund Advisors now owns 1,139,531 shares of the company’s stock valued at $83,653,000 after buying an additional 747,245 shares in the last quarter. Columbia Wanger Asset Management LLC raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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. Finally, 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 during the last quarter.
Shares of SPS Commerce (NASDAQ:SPSC) opened at 66.93 on Tuesday. SPS Commerce has a one year low of $38.35 and a one year high of $75.47. The company has a 50 day moving average price of $67.98 and a 200 day moving average price of $62.90. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 191.23 and a beta of 1.14.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm earned $49.28 million during the quarter, compared to analyst estimates of $49.02 million. SPS Commerce had a return on equity of 4.24% and a net margin of 3.27%. SPS Commerce’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. Equities analysts predict that SPS Commerce will post $0.99 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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