SPS Commerce Inc. (NASDAQ:SPSC) had its target price lifted by Needham & Company LLC from $70.00 to $83.00 in a report released on Monday. Needham & Company LLC currently has a buy rating on the stock.
Separately, Zacks Investment Research raised shares of SPS Commerce from a hold rating to a buy rating and set a $74.00 target price on the stock in a research report on Wednesday, August 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $77.29.
Shares of SPS Commerce (NASDAQ:SPSC) opened at 74.12 on Monday. SPS Commerce has a 12 month low of $38.35 and a 12 month high of $78.29. The company has a 50-day moving average of $67.72 and a 200 day moving average of $56.85. The company has a market capitalization of $1.26 billion, a P/E ratio of 264.71 and a beta of 1.23.
SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. SPS Commerce had a net margin of 2.73% and a return on equity of 3.84%. The business had revenue of $474 million for the quarter, compared to analyst estimates of $47.06 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. SPS Commerce’s revenue was up 22.2% compared to the same quarter last year. Analysts forecast that SPS Commerce will post $0.98 EPS for the current year.
In other SPS Commerce news, CEO Archie C. Black sold 10,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $63.38, for a total value of $633,800.00. Following the sale, the chief executive officer now owns 78,600 shares of the company’s stock, valued at approximately $4,981,668. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Smerklo sold 581 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $65.74, for a total transaction of $38,194.94. Following the completion of the sale, the director now directly owns 1,340 shares in the company, valued at approximately $88,091.60. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. purchased a new stake in SPS Commerce during the first quarter valued at $1,492,000. Brown Advisory Inc. raised its stake in SPS Commerce by 5.8% in the second quarter. Brown Advisory Inc. now owns 387,844 shares of the company’s stock valued at $23,503,000 after buying an additional 21,098 shares during the last quarter. Disciplined Growth Investors Inc. MN purchased a new stake in SPS Commerce during the first quarter valued at $6,086,000. BlackRock Group LTD raised its stake in SPS Commerce by 10.5% in the first quarter. BlackRock Group LTD now owns 78,769 shares of the company’s stock valued at $3,383,000 after buying an additional 7,496 shares during the last quarter. Finally, HBK Investments L P purchased a new stake in SPS Commerce during the first quarter valued at $273,000.
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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