SPS Commerce (NASDAQ:SPSC) Releases FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.28-3.32 for the period, compared to the consensus EPS estimate of $3.16. The company issued revenue guidance of $619.9-621.9 million, compared to the consensus revenue estimate of $618.91 million. SPS Commerce also updated its Q2 guidance to $0.75-0.76 EPS.

Analysts Set New Price Targets

SPSC has been the subject of a number of research analyst reports. Needham & Company LLC reissued a buy rating and set a $205.00 target price on shares of SPS Commerce in a research report on Friday, February 9th. Citigroup initiated coverage on SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 price target for the company. Finally, StockNews.com downgraded SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $199.67.

SPS Commerce Stock Performance

Shares of SPSC stock traded down $1.69 during trading on Thursday, hitting $169.43. 222,607 shares of the company were exchanged, compared to its average volume of 174,334. SPS Commerce has a twelve month low of $140.00 and a twelve month high of $218.74. The business’s 50-day simple moving average is $179.79 and its 200 day simple moving average is $179.11. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 95.76 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. The firm had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $143.05 million. On average, equities analysts forecast that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.27, for a total value of $2,310,252.49. Following the completion of the transaction, the chief operating officer now owns 44,369 shares in the company, valued at $7,954,030.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO James J. Frome sold 2,901 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the transaction, the chief operating officer now owns 54,029 shares in the company, valued at approximately $9,904,596.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO James J. Frome sold 12,887 shares of SPS Commerce stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total value of $2,310,252.49. Following the sale, the chief operating officer now owns 44,369 shares in the company, valued at $7,954,030.63. The disclosure for this sale can be found here. Insiders sold 66,688 shares of company stock worth $12,122,275 in the last 90 days. Insiders own 1.00% of the company’s stock.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.