Morgan Stanley Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $170.00

SPS Commerce (NASDAQ:SPSC) had its target price lowered by Morgan Stanley from $180.00 to $170.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

Several other research analysts have also issued reports on SPSC. Robert W. Baird increased their price objective on SPS Commerce from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Wall Street Zen upgraded SPS Commerce from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Stifel Nicolaus lowered their target price on SPS Commerce from $175.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday. Cantor Fitzgerald began coverage on SPS Commerce in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 target price for the company. Finally, DA Davidson lowered their target price on SPS Commerce from $245.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.80.

SPS Commerce Price Performance

SPS Commerce stock opened at $103.88 on Thursday. The stock has a fifty day moving average price of $137.36 and a two-hundred day moving average price of $143.38. SPS Commerce has a 52-week low of $103.18 and a 52-week high of $204.21. The firm has a market capitalization of $3.94 billion, a P/E ratio of 47.65 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%. The firm had revenue of $187.40 million during the quarter, compared to analyst estimates of $185.88 million. During the same period in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities research analysts predict that SPS Commerce will post 2.73 EPS for the current fiscal year.

Institutional Trading of SPS Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in SPS Commerce by 10.7% in the second quarter. Teacher Retirement System of Texas now owns 41,504 shares of the software maker’s stock worth $5,648,000 after purchasing an additional 4,015 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in SPS Commerce in the second quarter worth about $2,726,000. Nisa Investment Advisors LLC boosted its holdings in SPS Commerce by 10.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,542 shares of the software maker’s stock worth $210,000 after buying an additional 151 shares during the last quarter. AlphaQuest LLC boosted its holdings in SPS Commerce by 2.5% during the second quarter. AlphaQuest LLC now owns 6,628 shares of the software maker’s stock worth $902,000 after buying an additional 159 shares during the last quarter. Finally, Alamar Capital Management LLC bought a new position in SPS Commerce during the second quarter worth about $204,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.