SPS Commerce (NASDAQ:SPSC) Releases FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.280-3.320 for the period, compared to the consensus estimate of 3.160. The company issued revenue guidance of $619.9 million-$621.9 million, compared to the consensus revenue estimate of $618.9 million. SPS Commerce also updated its FY24 guidance to $3.28-3.32 EPS.

SPS Commerce Trading Up 5.6 %

Shares of SPS Commerce stock traded up $9.53 on Friday, reaching $178.96. 369,697 shares of the company were exchanged, compared to its average volume of 180,762. SPS Commerce has a one year low of $140.00 and a one year high of $218.74. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. The company has a 50-day moving average of $178.97 and a 200 day moving average of $179.13.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. The company had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $143.05 million. Analysts predict that SPS Commerce will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPSC shares. Citigroup started coverage on SPS Commerce in a research note on Wednesday, March 13th. They set a buy rating and a $216.00 price objective on the stock. Robert W. Baird increased their price target on SPS Commerce from $172.00 to $178.00 and gave the company a neutral rating in a research note on Friday. StockNews.com cut SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Finally, Needham & Company LLC restated a buy rating and issued a $205.00 price target on shares of SPS Commerce in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $196.57.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 12,907 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.41, for a total value of $2,315,644.87. Following the transaction, the chief financial officer now directly owns 157,251 shares of the company’s stock, valued at approximately $28,212,401.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other SPS Commerce news, CFO Kimberly K. Nelson sold 12,907 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.41, for a total value of $2,315,644.87. Following the transaction, the chief financial officer now directly owns 157,251 shares of the company’s stock, valued at approximately $28,212,401.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the transaction, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The disclosure for this sale can be found here. Insiders have sold a total of 66,688 shares of company stock valued at $12,122,275 in the last ninety days. 1.00% of the stock is currently 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.