SPS Commerce (NASDAQ:SPSC) Releases Q2 Earnings Guidance

SPS Commerce (NASDAQ:SPSCGet Rating) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.48-$0.49 for the period, compared to the Thomson Reuters consensus estimate of $0.50. The company issued revenue guidance of $108.3-$109.3 million, compared to the consensus revenue estimate of $109.24 million.SPS Commerce also updated its FY22 guidance to $2.07-$2.09 EPS.

Shares of NASDAQ:SPSC traded down $2.35 during mid-day trading on Friday, reaching $119.63. 203,500 shares of the stock were exchanged, compared to its average volume of 135,004. The company has a market cap of $4.32 billion, a P/E ratio of 94.20 and a beta of 0.81. SPS Commerce has a one year low of $91.05 and a one year high of $174.42. The stock’s 50 day simple moving average is $126.41 and its 200-day simple moving average is $134.36.

SPS Commerce (NASDAQ:SPSCGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The software maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.47 by $0.08. SPS Commerce had a return on equity of 10.10% and a net margin of 11.57%. The firm had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $104.50 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts forecast that SPS Commerce will post 1.36 EPS for the current fiscal year.

Several research analysts recently commented on SPSC shares. Loop Capital reduced their price target on SPS Commerce from $195.00 to $175.00 in a research report on Thursday, February 10th. Zacks Investment Research raised SPS Commerce from a sell rating to a hold rating in a research report on Saturday. StockNews.com started coverage on SPS Commerce in a research report on Thursday, March 31st. They set a buy rating for the company. Finally, JMP Securities reduced their price target on SPS Commerce from $180.00 to $160.00 and set a market outperform rating for the company in a research report on Thursday, February 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $167.88.

In related news, CFO Kimberly K. Nelson sold 6,859 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $124.36, for a total transaction of $852,985.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James J. Frome sold 16,843 shares of SPS Commerce stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $129.17, for a total value of $2,175,610.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,724 shares of company stock valued at $7,547,420. Insiders own 1.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SPSC. Morgan Stanley increased its stake in SPS Commerce by 1.4% during the 2nd quarter. Morgan Stanley now owns 314,223 shares of the software maker’s stock worth $31,375,000 after acquiring an additional 4,382 shares during the period. Barclays PLC increased its stake in SPS Commerce by 56.6% during the 4th quarter. Barclays PLC now owns 51,303 shares of the software maker’s stock worth $7,303,000 after acquiring an additional 18,551 shares during the period. Squarepoint Ops LLC bought a new position in SPS Commerce during the 4th quarter worth $304,000. Cetera Investment Advisers bought a new position in SPS Commerce during the 4th quarter worth $239,000. Finally, Millennium Management LLC increased its stake in SPS Commerce by 14.8% during the 4th quarter. Millennium Management LLC now owns 77,323 shares of the software maker’s stock worth $11,007,000 after acquiring an additional 9,965 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Company Profile (Get Rating)

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.

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Earnings History and Estimates for SPS Commerce (NASDAQ:SPSC)

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