SPS Commerce, Inc. (NASDAQ:SPSC) Receives $220.78 Consensus Price Target from Brokerages

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $220.78.

Several brokerages recently commented on SPSC. Piper Sandler initiated coverage on SPS Commerce in a research report on Monday, November 25th. They issued a "neutral" rating and a $198.00 target price for the company. Stifel Nicolaus raised their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price objective on shares of SPS Commerce in a research note on Friday, October 25th. Finally, Robert W. Baird increased their target price on SPS Commerce from $186.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, October 28th.

Insider Activity at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SPS Commerce

Large investors have recently bought and sold shares of the business. CWM LLC increased its stake in SPS Commerce by 25.3% in the second quarter. CWM LLC now owns 431 shares of the software maker's stock valued at $81,000 after purchasing an additional 87 shares in the last quarter. SG Americas Securities LLC increased its position in SPS Commerce by 79.0% during the second quarter. SG Americas Securities LLC now owns 8,300 shares of the software maker's stock worth $1,562,000 after acquiring an additional 3,662 shares during the period. Assenagon Asset Management S.A. raised its stake in SPS Commerce by 662.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker's stock worth $17,065,000 after purchasing an additional 78,805 shares in the last quarter. Raymond James & Associates boosted its holdings in SPS Commerce by 1.6% in the 2nd quarter. Raymond James & Associates now owns 75,540 shares of the software maker's stock valued at $14,214,000 after purchasing an additional 1,154 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of SPS Commerce during the 2nd quarter worth approximately $223,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Price Performance

NASDAQ:SPSC traded down $4.76 during midday trading on Friday, reaching $192.38. The stock had a trading volume of 197,882 shares, compared to its average volume of 184,390. The stock has a market capitalization of $7.23 billion, a P/E ratio of 92.05 and a beta of 0.86. SPS Commerce has a 1-year low of $160.58 and a 1-year high of $218.74. The firm's fifty day simple moving average is $187.10 and its 200-day simple moving average is $191.20.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The business had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same quarter last year, the company posted $0.53 earnings per share. SPS Commerce's quarterly revenue was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

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.