SPS Commerce (NASDAQ:SPSC) Updates FY24 Earnings Guidance

by · The Cerbat Gem

SPS Commerce (NASDAQ:SPSC – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.41-$3.42 for the period, compared to the consensus earnings per share estimate of $3.36. The company issued revenue guidance of $635.4-$636.4 million, compared to the consensus revenue estimate of $631.31 million. SPS Commerce also updated its FY 2024 guidance to 3.410-3.420 EPS.

SPS Commerce Price Performance

SPS Commerce stock traded down $20.49 during trading hours on Friday, hitting $170.49. The stock had a trading volume of 636,065 shares, compared to its average volume of 179,940. SPS Commerce has a 1-year low of $151.96 and a 1-year high of $218.74. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 91.26 and a beta of 0.82. The stock’s fifty day moving average is $193.22 and its two-hundred day moving average is $190.55.

SPS Commerce (NASDAQ:SPSC – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a return on equity of 12.41% and a net margin of 12.31%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, sell-side analysts anticipate that SPS Commerce will post 2.32 EPS for the current year.

Analyst Ratings Changes

SPSC has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on SPS Commerce from $178.00 to $186.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday. DA Davidson upped their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Craig Hallum lifted their target price on shares of SPS Commerce from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Northland Capmk downgraded SPS Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, SPS Commerce currently has a consensus rating of “Moderate Buy” and an average price target of $223.38.

View Our Latest Stock Report on SPS Commerce

Insiders Place Their Bets

In other SPS Commerce news, Director Sven Wehrwein sold 2,000 shares of SPS Commerce stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $201.35, for a total transaction of $402,700.00. Following the transaction, the director now directly owns 16,212 shares of the company’s stock, valued at $3,264,286.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

About SPS Commerce

(Get Free Report)

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.

Recommended Stories