SPS Commerce (NASDAQ:SPSC) Updates FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.280-3.320 for the period, compared to the consensus earnings per share estimate of 3.160. The company issued revenue guidance of $619.9 million-$621.9 million, compared to the consensus revenue estimate of $618.9 million. SPS Commerce also updated its FY24 guidance to $3.28-3.32 EPS.

SPS Commerce Trading Up 5.6 %

SPSC traded up $9.53 during trading on Friday, hitting $178.96. 369,697 shares of the company’s stock were exchanged, compared to its average volume of 180,762. SPS Commerce has a 1 year low of $140.00 and a 1 year high of $218.74. The stock has a 50 day moving average price of $178.97 and a 200 day moving average price of $179.13. The firm has a market cap of $6.64 billion, a P/E ratio of 97.79 and a beta of 0.79.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Archie C. Black sold 12,875 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the transaction, the director now owns 89,940 shares in the company, valued at approximately $16,137,034.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value 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 SEC, which is accessible through this link. Also, Director Archie C. Black sold 12,875 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the transaction, the director now owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,688 shares of company stock worth $12,122,275. Corporate 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.