SPS Commerce (NASDAQ:SPSC) Cut to Hold at Loop Capital

Loop Capital cut shares of SPS Commerce (NASDAQ:SPSC) from a buy rating to a hold rating in a report published on Thursday, Marketbeat Ratings reports. The firm currently has $120.00 price target on the software maker’s stock, down from their previous price target of $175.00.

Several other research firms have also commented on SPSC. DA Davidson dropped their target price on SPS Commerce from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of SPS Commerce in a research note on Friday, April 25th. Robert W. Baird boosted their target price on shares of SPS Commerce from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Wall Street Zen upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Finally, Cantor Fitzgerald began coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $170.00 price objective for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.80.

SPS Commerce Price Performance

SPSC stock opened at $103.88 on Thursday. The company has a market capitalization of $3.94 billion, a P/E ratio of 47.65 and a beta of 0.71. SPS Commerce has a 12 month low of $103.18 and a 12 month high of $204.21. The firm’s fifty day simple moving average is $137.36 and its 200-day simple moving average is $143.38.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.10. The company had revenue of $187.40 million during the quarter, compared to the consensus estimate of $185.88 million. SPS Commerce had a net margin of 11.79% and a return on equity of 12.10%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, sell-side analysts forecast that SPS Commerce will post 2.73 earnings per share for the current year.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. increased its position in shares of SPS Commerce by 60.6% during the second quarter. UMB Bank n.a. now owns 212 shares of the software maker’s stock worth $29,000 after purchasing an additional 80 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of SPS Commerce in the fourth quarter valued at about $41,000. MassMutual Private Wealth & Trust FSB grew its stake in SPS Commerce by 126.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker’s stock valued at $30,000 after acquiring an additional 125 shares in the last quarter. NewEdge Advisors LLC grew its stake in SPS Commerce by 545.7% during the 1st quarter. NewEdge Advisors LLC now owns 226 shares of the software maker’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in SPS Commerce by 296.6% in the 1st quarter. Allworth Financial LP now owns 234 shares of the software maker’s stock valued at $33,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

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.