SPS Commerce (NASDAQ:SPSC) Updates Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.75-0.76 for the period, compared to the consensus earnings per share 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 FY24 guidance to $3.28-3.32 EPS.

SPS Commerce Stock Performance

Shares of SPSC stock traded down $1.69 on Thursday, hitting $169.43. 222,607 shares of the company’s stock traded hands, compared to its average volume of 174,334. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 95.76 and a beta of 0.79. SPS Commerce has a one year low of $140.00 and a one year high of $218.74. The company’s fifty day simple moving average is $179.79 and its 200 day simple moving average is $179.11.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a net margin of 12.26% and a return on equity of 12.18%. As a group, sell-side analysts anticipate that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup assumed coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 price target for the company. Needham & Company LLC reaffirmed a buy rating and set a $205.00 target price on shares of SPS Commerce in a report on Friday, February 9th. Finally, StockNews.com cut shares of SPS Commerce from a buy rating to a hold rating in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce has an average rating of Moderate Buy and an average target price of $199.67.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total value of $2,310,032.50. Following the completion of the transaction, the director now directly owns 89,940 shares in the company, valued at $16,137,034.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Archie C. Black sold 12,875 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the transaction, the director now owns 89,940 shares in the company, valued at $16,137,034.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total transaction of $474,448.24. Following the transaction, the director now owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,688 shares of company stock valued at $12,122,275. 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.