Piper Sandler Issues Pessimistic Forecast for SPS Commerce (NASDAQ:SPSC) Stock Price

SPS Commerce (NASDAQ:SPSC) had its price objective dropped by research analysts at Piper Sandler from $198.00 to $175.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price objective points to a potential upside of 14.42% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Robert W. Baird lowered their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday. Citigroup lowered their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Stifel Nicolaus lowered their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Northland Securities reiterated a “market perform” rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a report on Tuesday. Finally, Needham & Company LLC decreased their price objective on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce has a consensus rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Price Performance

Shares of SPSC opened at $152.94 on Tuesday. SPS Commerce has a one year low of $147.27 and a one year high of $218.61. The company has a 50-day simple moving average of $186.73 and a two-hundred day simple moving average of $189.28. The firm 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 issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. Analysts expect that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the sale, the chief financial officer now owns 147,002 shares of the company’s stock, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 34,230 shares of company stock valued at $6,379,187. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its position in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Advisors Asset Management Inc. grew its position in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of SPS Commerce during the 4th quarter valued at $40,000. R Squared Ltd bought a new stake in shares of SPS Commerce during the 4th quarter valued at $57,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of SPS Commerce during the 4th quarter valued at $57,000. Institutional investors 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.