SPS Commerce (NASDAQ:SPSC) Updates Q2 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.750-0.760 for the period, compared to the consensus earnings per share estimate of 0.760. The company issued revenue guidance of $150.9 million-$151.7 million, compared to the consensus revenue estimate of $151.2 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

SPS Commerce Stock Up 5.6 %

Shares of SPS Commerce stock traded up $9.53 on Friday, reaching $178.96. The company’s stock had a trading volume of 369,697 shares, compared to its average volume of 180,762. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. The firm’s fifty day simple moving average is $178.97 and its two-hundred day simple moving average is $179.13. SPS Commerce has a 52 week low of $140.00 and a 52 week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. The company had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. As a group, research analysts predict that SPS Commerce will post 2.13 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on SPSC. Robert W. Baird lifted their price objective on SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a report on Friday. Citigroup began coverage on SPS Commerce in a report on Wednesday, March 13th. They issued a buy rating and a $216.00 price objective for the company. StockNews.com lowered SPS Commerce from a buy rating to a hold rating in a report on Friday, March 15th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $205.00 price objective on shares of SPS Commerce in a report on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $196.57.

Insider Activity at SPS Commerce

In related news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kimberly K. Nelson sold 12,907 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.41, for a total value of $2,315,644.87. Following the completion of the transaction, the chief financial officer now owns 157,251 shares in the company, valued at $28,212,401.91. The disclosure for this sale can be found here. Over the last three months, insiders have 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.