SPS Commerce (NASDAQ:SPSC) Coverage Initiated at Morgan Stanley

Equities researchers at Morgan Stanley began coverage on shares of SPS Commerce (NASDAQ:SPSC) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $180.00 price target on the software maker’s stock. Morgan Stanley’s target price suggests a potential upside of 30.33% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SPSC. DA Davidson cut their target price on SPS Commerce from $245.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Robert W. Baird lifted their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Cantor Fitzgerald began coverage on shares of SPS Commerce in a research report on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of SPS Commerce in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and an average price target of $191.30.

SPS Commerce Price Performance

SPSC stock opened at $138.11 on Monday. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 64.54 and a beta of 0.71. SPS Commerce has a 1-year low of $120.09 and a 1-year high of $218.61. The firm has a fifty day moving average price of $140.80 and a two-hundred day moving average price of $147.82.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The firm had revenue of $181.55 million for the quarter, compared to analyst estimates of $179.57 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. SPS Commerce’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, analysts expect that SPS Commerce will post 2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On SPS Commerce

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in SPS Commerce by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker’s stock valued at $852,032,000 after purchasing an additional 67,687 shares during the last quarter. FMR LLC lifted its position in shares of SPS Commerce by 109.7% during the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker’s stock valued at $261,235,000 after acquiring an additional 742,686 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of SPS Commerce by 0.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,260,182 shares of the software maker’s stock valued at $167,264,000 after acquiring an additional 11,590 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of SPS Commerce by 34.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 887,615 shares of the software maker’s stock valued at $117,813,000 after acquiring an additional 225,848 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of SPS Commerce by 33.4% during the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker’s stock worth $140,882,000 after acquiring an additional 191,740 shares in the last quarter. Institutional investors own 98.96% 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.