Needham & Company LLC reaffirmed their buy rating on shares of SPS Commerce (NASDAQ:SPSC - Free Report) in a research note issued to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $230.00 price objective on the software maker's stock.
A number of other analysts have also issued reports on SPSC. Northland Capmk lowered shares of SPS Commerce from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 29th. Craig Hallum lifted their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Robert W. Baird upped their price target on shares of SPS Commerce from $178.00 to $186.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. DA Davidson lifted their price objective on SPS Commerce from $225.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Finally, Northland Securities lowered SPS Commerce from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $205.00 to $209.00 in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $223.38.
Read Our Latest Stock Analysis on SPS Commerce
SPS Commerce Stock Performance
Shares of NASDAQ:SPSC traded down $20.49 during mid-day trading on Friday, hitting $170.49. The stock had a trading volume of 636,065 shares, compared to its average volume of 179,940. SPS Commerce has a 12-month low of $151.96 and a 12-month high of $218.74. The company has a market cap of $6.33 billion, a PE ratio of 91.26 and a beta of 0.82. The company's 50 day moving average is $193.22 and its 200-day moving average is $190.55.
SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Thursday, July 25th. The software maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to analysts' expectations of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. SPS Commerce's revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. On average, equities research analysts predict that SPS Commerce will post 2.32 EPS for the current fiscal year.
Insider Transactions at SPS Commerce
In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the sale, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.
Hedge Funds Weigh In On SPS Commerce
Hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. grew its position in SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker's stock valued at $27,000 after acquiring an additional 128 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of SPS Commerce in the 2nd quarter worth about $30,000. Blue Trust Inc. increased its position in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in SPS Commerce during the 1st quarter valued at about $60,000. Finally, DT Investment Partners LLC acquired a new position in SPS Commerce in the second quarter valued at about $63,000. 98.96% of the stock is owned by institutional investors.
About SPS Commerce
(
Get Free Report)
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.
Further Reading
Before you consider SPS Commerce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SPS Commerce wasn't on the list.
While SPS Commerce currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
