SPS Commerce’s (SPSC) Buy Rating Reiterated at Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $230.00 target price on the software maker’s stock. Needham & Company LLC’s target price points to a potential upside of 20.43% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on SPSC. Stifel Nicolaus upped their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, July 26th. Craig Hallum increased their price objective on SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Northland Securities downgraded shares of SPS Commerce from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Robert W. Baird boosted their target price on shares of SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six 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 $220.25.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $190.98 on Friday. The firm has a 50 day moving average price of $193.22 and a 200 day moving average price of $190.55. The stock has a market cap of $7.09 billion, a P/E ratio of 99.47 and a beta of 0.82. SPS Commerce has a 52-week low of $151.96 and a 52-week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The company had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.87 million. During the same period in the prior year, the firm earned $0.42 earnings per share. SPS Commerce’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts predict that SPS Commerce will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of the firm’s stock in a transaction 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 directly owns 16,212 shares of the company’s stock, valued at $3,264,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SPS Commerce

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norden Group LLC lifted its position in SPS Commerce by 2,034.7% in the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after buying an additional 201,764 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of SPS Commerce by 2,099.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 96,782 shares of the software maker’s stock worth $18,211,000 after purchasing an additional 92,381 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in SPS Commerce by 662.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 90,694 shares of the software maker’s stock valued at $17,065,000 after purchasing an additional 78,805 shares during the period. F M Investments LLC purchased a new position in SPS Commerce during the 2nd quarter valued at $13,869,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of SPS Commerce during the second quarter valued at about $12,876,000. Hedge funds and other institutional investors own 98.96% 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.