SPS Commerce (NASDAQ:SPSC) Issues Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.75-0.76 for the period, compared to the consensus estimate of $0.76. The company issued revenue guidance of $150.9-151.7 million, compared to the consensus revenue estimate of $151.18 million. SPS Commerce also updated its FY24 guidance to $3.28-3.32 EPS.

SPS Commerce Trading Down 1.0 %

Shares of SPSC traded down $1.69 during trading hours on Thursday, reaching $169.43. 222,607 shares of the stock traded hands, compared to its average volume of 174,334. SPS Commerce has a 52-week low of $140.00 and a 52-week high of $218.74. The company’s 50-day moving average price is $179.79 and its two-hundred day moving average price is $179.11. The company has a market cap of $6.28 billion, a P/E ratio of 95.76 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a net margin of 12.26% and a return on equity of 12.18%. On average, research analysts forecast that SPS Commerce will post 2.13 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a buy rating and issued a $205.00 target price on shares of SPS Commerce in a report on Friday, February 9th. Citigroup assumed coverage on shares of SPS Commerce in a report on Wednesday, March 13th. They set a buy rating and a $216.00 price target on the stock. Finally, StockNews.com cut shares of SPS Commerce from a buy rating to a hold rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $199.67.

Insider Transactions at SPS Commerce

In related news, Director Archie C. Black sold 12,875 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the sale, the director now owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Archie C. Black sold 12,875 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the sale, the director now owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sven Wehrwein sold 2,408 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the sale, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,688 shares of company stock valued at $12,122,275. Company insiders own 1.00% of the company’s stock.

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.