SPS Commerce (NASDAQ:SPSC) Releases FY24 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.28-3.32 for the period, compared to the consensus estimate of $3.16. The company issued revenue guidance of $619.9-621.9 million, compared to the consensus revenue estimate of $618.91 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPSC. Needham & Company LLC restated a buy rating and set a $205.00 target price on shares of SPS Commerce in a report on Friday. Citigroup initiated coverage on SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 price objective for the company. Robert W. Baird lifted their price objective on SPS Commerce from $172.00 to $178.00 and gave the company a neutral rating in a research note on Friday. Finally, StockNews.com cut SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $196.57.

SPS Commerce Price Performance

Shares of NASDAQ SPSC traded up $9.53 during midday trading on Friday, hitting $178.96. 369,697 shares of the company’s stock were exchanged, compared to its average volume of 180,762. SPS Commerce has a twelve month low of $140.00 and a twelve month high of $218.74. The company has a market cap of $6.64 billion, a PE ratio of 97.79 and a beta of 0.79. The firm’s fifty day simple moving average is $178.97 and its 200-day simple moving average is $179.13.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. The business had revenue of $144.97 million for the quarter, compared to analyst estimates of $143.05 million. Equities analysts anticipate that SPS Commerce will post 2.13 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the transaction, the director now owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the transaction, the director now owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following the transaction, the director now directly owns 15,747 shares in the company, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,688 shares of company stock valued at $12,122,275. Corporate insiders own 1.00% of the company’s stock.

SPS Commerce Company Profile

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.