SPS Commerce, Inc. (SPSC) Rating Increased to Sell at BidaskClub
SPS Commerce, Inc. (NASDAQ:SPSC) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also commented on SPSC. Oppenheimer Holdings, Inc. began coverage on SPS Commerce in a research note on Thursday, July 20th. They set an “outperform” rating and a $74.00 price target on the stock. Needham & Company LLC lowered their price objective on SPS Commerce from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Zacks Investment Research upgraded SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Wednesday, August 2nd. Northland Securities set a $84.00 price objective on SPS Commerce and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, CIBC began coverage on SPS Commerce in a research report on Friday, July 21st. They set an “outperform” rating and a $74.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. SPS Commerce currently has a consensus rating of “Buy” and an average price target of $75.50.
Shares of SPS Commerce (NASDAQ SPSC) opened at 58.55 on Wednesday. The firm’s 50-day moving average price is $59.55 and its 200 day moving average price is $58.82. SPS Commerce has a one year low of $48.11 and a one year high of $74.85. The company has a market capitalization of $1.01 billion, a PE ratio of 110.68 and a beta of 1.20.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. SPS Commerce had a return on equity of 4.70% and a net margin of 4.41%. The firm had revenue of $54.30 million for the quarter, compared to analyst estimates of $53.74 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts anticipate that SPS Commerce will post $0.88 earnings per share for the current year.
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A number of large investors have recently modified their holdings of the company. Simplex Trading LLC acquired a new stake in shares of SPS Commerce during the first quarter worth $110,000. State of Alaska Department of Revenue increased its stake in shares of SPS Commerce by 3.3% in the first quarter. State of Alaska Department of Revenue now owns 1,900 shares of the software maker’s stock worth $111,000 after buying an additional 60 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of SPS Commerce by 83.4% in the first quarter. Victory Capital Management Inc. now owns 2,003 shares of the software maker’s stock worth $117,000 after buying an additional 911 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of SPS Commerce by 113.1% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock worth $136,000 after buying an additional 1,131 shares during the last quarter. Finally, Blueport Capital L.P. increased its stake in shares of SPS Commerce by 28.3% in the first quarter. Blueport Capital L.P. now owns 2,382 shares of the software maker’s stock worth $139,000 after buying an additional 525 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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