Needham & Company LLC Issues Pessimistic Forecast for SPS Commerce (NASDAQ:SPSC) Stock Price

SPS Commerce (NASDAQ:SPSC) had its price objective reduced by research analysts at Needham & Company LLC from $230.00 to $210.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 37.31% from the company’s previous close.

Other research analysts also recently issued reports about the company. Citigroup cut their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Piper Sandler initiated coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 price objective on the stock. Northland Securities reissued a “market perform” rating and issued a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a research note on Tuesday. Stifel Nicolaus cut their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Robert W. Baird raised their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Six 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Price Performance

SPSC opened at $152.94 on Tuesday. SPS Commerce has a fifty-two week low of $147.27 and a fifty-two week high of $218.61. The business has a 50-day moving average of $186.73 and a 200-day moving average of $189.28. The company has a market capitalization of $5.75 billion, a PE ratio of 73.18 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. On average, equities research analysts expect that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at SPS Commerce

In other news, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the sale, the executive vice president now owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at $26,620,592.18. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,230 shares of company stock valued at $6,379,187. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of SPS Commerce

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in SPS Commerce in the 4th quarter valued at $40,000. R Squared Ltd bought a new position in SPS Commerce in the 4th quarter valued at $57,000. Finally, Arcadia Investment Management Corp MI bought a new position in SPS Commerce in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 98.96% 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.