Research analysts at Pacific Crest initiated coverage on shares of SPS Commerce Inc. (NASDAQ:SPSC) in a report issued on Thursday. The brokerage set an “overweight” rating and a $85.00 price target on the stock. Pacific Crest’s price objective would suggest a potential upside of 15.79% from the stock’s current price.
Other analysts have also issued research reports about the company. Zacks Investment Research raised SPS Commerce from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Wednesday, August 3rd. Needham & Company LLC lifted their price objective on SPS Commerce from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, September 26th. Finally, First Analysis assumed coverage on SPS Commerce in a report on Monday, September 26th. They issued an “overweight” rating and a $86.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $78.25.
Shares of SPS Commerce (NASDAQ:SPSC) opened at 73.41 on Thursday. The company’s 50-day moving average price is $68.17 and its 200-day moving average price is $57.20. SPS Commerce has a one year low of $38.35 and a one year high of $78.29. The stock has a market cap of $1.25 billion, a PE ratio of 262.18 and a beta of 1.23.
SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Wednesday, July 27th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business earned $474 million during the quarter, compared to analyst estimates of $47.06 million. SPS Commerce had a return on equity of 3.84% and a net margin of 2.73%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. Equities research analysts anticipate that SPS Commerce will post $0.98 earnings per share for the current year.
In related news, CEO Archie C. Black sold 10,000 shares of SPS Commerce stock in a transaction on Monday, August 1st. The stock was sold at an average price of $63.38, for a total transaction of $633,800.00. Following the transaction, the chief executive officer now directly owns 78,600 shares in the company, valued at $4,981,668. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Smerklo sold 580 shares of SPS Commerce stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $67.40, for a total value of $39,092.00. Following the transaction, the director now owns 760 shares in the company, valued at $51,224. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors increased its position in shares of SPS Commerce by 0.6% in the second quarter. Nationwide Fund Advisors now owns 10,874 shares of the company’s stock valued at $659,000 after buying an additional 65 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of SPS Commerce by 2.3% in the second quarter. Mackenzie Financial Corp now owns 10,118 shares of the company’s stock valued at $613,000 after buying an additional 227 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of SPS Commerce by 3.0% in the second quarter. BlackRock Advisors LLC now owns 8,046 shares of the company’s stock valued at $488,000 after buying an additional 235 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of SPS Commerce by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,322 shares of the company’s stock valued at $141,000 after buying an additional 285 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of SPS Commerce by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 53,519 shares of the company’s stock valued at $3,244,000 after buying an additional 756 shares during the last quarter.
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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