Analysts Set SPS Commerce, Inc. (NASDAQ:SPSC) Target Price at $218.00

Shares of SPS Commerce, Inc. (NASDAQ:SPSC) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $218.00.

Several research firms have recently weighed in on SPSC. Piper Sandler assumed coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price for the company. Robert W. Baird lifted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a research report on Friday, January 3rd. Finally, Stifel Nicolaus dropped their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd.

SPS Commerce Stock Performance

Shares of SPSC opened at $183.31 on Tuesday. The company has a market capitalization of $6.89 billion, a P/E ratio of 87.71 and a beta of 0.88. The business’s 50-day moving average is $186.75 and its two-hundred day moving average is $191.45. SPS Commerce has a fifty-two week low of $160.58 and a fifty-two week high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The firm had revenue of $163.69 million for the quarter, compared to analyst estimates of $160.30 million. During the same period last year, the company earned $0.53 earnings per share. SPS Commerce’s revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts forecast that SPS Commerce will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares in the company, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chadwick Collins sold 6,839 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the transaction, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

Several large investors have recently bought and sold shares of SPSC. Central Pacific Bank Trust Division grew its holdings in SPS Commerce by 13.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,010 shares of the software maker’s stock valued at $186,000 after buying an additional 120 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after acquiring an additional 104,210 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of SPS Commerce by 27.9% in the third quarter. Lord Abbett & CO. LLC now owns 283,685 shares of the software maker’s stock valued at $55,083,000 after purchasing an additional 61,907 shares during the period. Franklin Resources Inc. grew its holdings in shares of SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock valued at $84,747,000 after purchasing an additional 210,284 shares during the period. Finally, Synovus Financial Corp acquired a new stake in SPS Commerce during the third quarter worth about $1,809,000. 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.