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 guidance of 3.410-3.420 for the period, compared to the consensus earnings per share estimate of 3.360. The company issued revenue guidance of $635.4 million-$636.4 million, compared to the consensus revenue estimate of $631.3 million. SPS Commerce also updated its FY24 guidance to $3.41-$3.42 EPS.

SPS Commerce Trading Down 10.7 %

Shares of NASDAQ:SPSC traded down $20.49 during midday trading on Friday, reaching $170.49. The company had a trading volume of 636,500 shares, compared to its average volume of 179,940. SPS Commerce has a 52-week low of $151.96 and a 52-week high of $218.74. The company’s 50 day moving average price is $192.69 and its 200 day moving average price is $190.51. The stock has a market cap of $6.33 billion, a P/E ratio of 88.80 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The business had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $151.87 million. During the same period in the previous year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts forecast that SPS Commerce will post 2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Craig Hallum boosted their price target on shares of SPS Commerce from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday. Northland Capmk lowered shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their price target on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird boosted their target price on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $223.38.

Insider Buying and Selling

In other news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $201.35, for a total value of $402,700.00. Following the completion of the transaction, the director now owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company 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.