SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.28-3.32 for the period, compared to the consensus earnings per share 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 FY 2024 guidance to 3.280-3.320 EPS.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They set a buy rating and a $216.00 price target for the company. Robert W. Baird raised their price target on shares of SPS Commerce from $172.00 to $178.00 and gave the company a neutral rating in a research note on Friday. Needham & Company LLC reaffirmed a buy rating and set a $205.00 price target on shares of SPS Commerce in a research note on Friday. Finally, StockNews.com downgraded shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, SPS Commerce has an average rating of Moderate Buy and an average target price of $196.57.

SPS Commerce Price Performance

Shares of SPSC traded up $9.53 during trading hours on Friday, hitting $178.96. 369,697 shares of the stock were exchanged, compared to its average volume of 180,762. The firm has a market capitalization of $6.64 billion, a P/E ratio of 97.79 and a beta of 0.79. The business has a 50-day moving average of $178.97 and a 200-day moving average of $179.08. SPS Commerce has a fifty-two week low of $140.00 and a fifty-two week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. As a group, analysts forecast that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the transaction, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the transaction, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James J. Frome sold 2,825 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $187.47, for a total transaction of $529,602.75. Following the transaction, the chief operating officer now directly owns 56,930 shares in the company, valued at $10,672,667.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,688 shares of company stock worth $12,122,275. 1.00% of the stock is currently owned by company insiders.

About SPS Commerce

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.