Research Analysts Set Expectations for SPS Commerce, Inc.’s Q2 2024 Earnings (NASDAQ:SPSC)

SPS Commerce, Inc. (NASDAQ:SPSC) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of SPS Commerce in a report released on Friday, April 26th. DA Davidson analyst G. Luria forecasts that the software maker will post earnings of $0.54 per share for the quarter. The consensus estimate for SPS Commerce’s current full-year earnings is $2.13 per share. DA Davidson also issued estimates for SPS Commerce’s FY2025 earnings at $2.71 EPS.

SPSC has been the topic of a number of other research reports. Robert W. Baird boosted their target price on SPS Commerce from $172.00 to $178.00 and gave the company a “neutral” rating in a research report on Friday. StockNews.com lowered SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Citigroup assumed coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a research report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $196.57.

SPS Commerce Stock Up 5.6 %

Shares of NASDAQ SPSC opened at $178.96 on Monday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. SPS Commerce has a 52-week low of $140.00 and a 52-week high of $218.74. The business’s 50 day moving average is $178.97 and its two-hundred day moving average is $179.20.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $144.97 million for the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%.

Hedge Funds Weigh In On SPS Commerce

A number of institutional investors and hedge funds have recently modified their holdings of SPSC. Norges Bank acquired a new position in shares of SPS Commerce during the fourth quarter worth $74,977,000. Wellington Management Group LLP boosted its stake in SPS Commerce by 4,691.6% in the third quarter. Wellington Management Group LLP now owns 277,913 shares of the software maker’s stock valued at $47,415,000 after acquiring an additional 272,113 shares in the last quarter. Norden Group LLC raised its holdings in shares of SPS Commerce by 2,034.7% in the first quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock valued at $39,138,000 after buying an additional 201,764 shares during the last quarter. Comerica Bank purchased a new stake in shares of SPS Commerce in the third quarter valued at about $23,356,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of SPS Commerce by 27.6% in the third quarter. Ameriprise Financial Inc. now owns 594,624 shares of the software maker’s stock valued at $101,449,000 after buying an additional 128,788 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insiders Place Their Bets

In other SPS Commerce news, COO James J. Frome sold 2,901 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the transaction, the chief operating officer now owns 54,029 shares in the company, valued at $9,904,596.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Archie C. Black sold 12,875 shares of the business’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 legal filing with the SEC, which is accessible through the SEC website. Also, COO James J. Frome sold 2,901 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total transaction of $531,811.32. Following the transaction, the chief operating officer now owns 54,029 shares of the company’s stock, valued at approximately $9,904,596.28. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock worth $12,122,275 over the last 90 days. Corporate 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.