SPS Commerce (NASDAQ:SPSC) Releases Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its second quarter earnings guidance on Thursday. 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 FY 2024 guidance to 3.280-3.320 EPS.

SPS Commerce Trading Up 5.6 %

Shares of SPS Commerce stock traded up $9.53 during trading hours on Friday, reaching $178.96. 369,697 shares of the company’s stock were exchanged, compared to its average volume of 180,762. The company has a fifty day moving average of $178.97 and a 200-day moving average of $179.08. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. SPS Commerce has a 52-week low of $140.00 and a 52-week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. On average, equities research analysts anticipate that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Needham & Company LLC restated a buy rating and set a $205.00 target price on shares of SPS Commerce in a research note on Friday. StockNews.com cut shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Robert W. Baird raised their price target on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a research report on Friday. Finally, Citigroup initiated coverage on shares of SPS Commerce in a research report on Wednesday, March 13th. They set a buy rating and a $216.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $196.57.

Insider Activity at SPS Commerce

In other news, Director Sven Wehrwein sold 2,408 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the sale, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.42, for a total value of $2,310,032.50. Following the transaction, the director now owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sven Wehrwein sold 2,408 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following the transaction, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. Insiders sold 66,688 shares of company stock valued at $12,122,275 in the last three months. Corporate 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.