SPS Commerce (NASDAQ:SPSC) Releases FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.41-$3.42 for the period, compared to the consensus estimate of $3.36. The company issued revenue guidance of $635.4-$636.4 million, compared to the consensus revenue estimate of $631.31 million. SPS Commerce also updated its FY 2024 guidance to 3.410-3.420 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. DA Davidson boosted their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $230.00 price objective on shares of SPS Commerce in a research note on Friday. Craig Hallum boosted their price objective on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $223.38.

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $170.49 on Friday. The firm’s 50 day moving average price is $192.69 and its 200-day moving average price is $190.58. The company has a market cap of $6.33 billion, a PE ratio of 88.80 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 issued its earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. On average, analysts forecast that SPS Commerce will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the transaction, the director now directly owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

About SPS Commerce

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.