SPS Commerce (SPSC) Price Target Raised to $98.00 at Benchmark

SPS Commerce (NASDAQ:SPSC) had its target price upped by Benchmark to $98.00 in a research note published on Friday, The Fly reports. The brokerage currently has a buy rating on the software maker’s stock.

SPSC has been the subject of several other reports. Zacks Investment Research downgraded SPS Commerce from a buy rating to a hold rating in a research note on Thursday, September 27th. BidaskClub downgraded SPS Commerce from a hold rating to a sell rating in a research note on Friday, October 12th. Canaccord Genuity upped their price objective on SPS Commerce from $75.00 to $85.00 and gave the company a buy rating in a research note on Friday, July 27th. First Analysis set a $86.00 price objective on SPS Commerce and gave the company a neutral rating in a research note on Thursday, October 4th. Finally, Stifel Nicolaus upped their price objective on SPS Commerce from $82.00 to $90.00 and gave the company a buy rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $90.00.

SPSC traded up $10.60 on Friday, hitting $94.76. 428,831 shares of the company traded hands, compared to its average volume of 163,069. The company has a market cap of $1.47 billion, a PE ratio of 225.62, a P/E/G ratio of 3.67 and a beta of 0.75. SPS Commerce has a 12-month low of $45.02 and a 12-month high of $100.68.



SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 26th. The software maker reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.16. The firm had revenue of $61.09 million during the quarter, compared to the consensus estimate of $59.78 million. SPS Commerce had a return on equity of 5.67% and a net margin of 3.16%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. Analysts predict that SPS Commerce will post 1.15 earnings per share for the current fiscal year.

In other SPS Commerce news, CEO Archie C. Black sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $85.33, for a total transaction of $853,300.00. Following the transaction, the chief executive officer now owns 89,352 shares in the company, valued at approximately $7,624,406.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin J. Leestma sold 5,316 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $99.35, for a total value of $528,144.60. Following the transaction, the director now owns 20,935 shares in the company, valued at approximately $2,079,892.25. The disclosure for this sale can be found here. Insiders have sold a total of 46,811 shares of company stock worth $4,128,745 in the last quarter. 2.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in SPS Commerce by 10.4% during the 2nd quarter. BlackRock Inc. now owns 2,385,431 shares of the software maker’s stock worth $175,281,000 after purchasing an additional 224,322 shares during the period. FMR LLC grew its holdings in shares of SPS Commerce by 19.8% in the 2nd quarter. FMR LLC now owns 1,218,502 shares of the software maker’s stock worth $89,536,000 after acquiring an additional 201,002 shares during the period. Wells Fargo & Company MN grew its holdings in shares of SPS Commerce by 7.4% in the 2nd quarter. Wells Fargo & Company MN now owns 553,841 shares of the software maker’s stock worth $40,695,000 after acquiring an additional 38,323 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of SPS Commerce by 15.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 507,006 shares of the software maker’s stock worth $50,315,000 after acquiring an additional 69,440 shares during the period. Finally, Granahan Investment Management Inc. MA grew its holdings in shares of SPS Commerce by 19.2% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 363,241 shares of the software maker’s stock worth $26,691,000 after acquiring an additional 58,611 shares during the period. Institutional investors own 95.03% of the company’s stock.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.

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The Fly

Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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