SPS Commerce, Inc. (SPSC) Given Consensus Recommendation of “Hold” by Brokerages
Shares of SPS Commerce, Inc. (NASDAQ:SPSC) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $68.17.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut SPS Commerce from a “hold” rating to a “sell” rating in a report on Friday, February 9th. Canaccord Genuity reduced their price objective on SPS Commerce from $62.00 to $57.00 and set a “hold” rating for the company in a report on Wednesday, February 7th. BidaskClub upgraded SPS Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. ValuEngine cut SPS Commerce from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Oppenheimer reiterated a “buy” rating and issued a $62.00 price target on shares of SPS Commerce in a research note on Thursday, January 25th.
Hedge funds have recently modified their holdings of the stock. Zions Bancorporation bought a new stake in shares of SPS Commerce in the third quarter valued at approximately $117,000. SG Americas Securities LLC bought a new stake in shares of SPS Commerce in the third quarter valued at approximately $125,000. Magnetar Financial LLC bought a new stake in SPS Commerce during the third quarter worth $203,000. Piedmont Investment Advisors LLC bought a new stake in SPS Commerce during the second quarter worth $237,000. Finally, Koch Industries Inc. bought a new stake in SPS Commerce during the fourth quarter worth $240,000. Institutional investors and hedge funds own 97.44% of the company’s stock.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. SPS Commerce had a positive return on equity of 2.81% and a negative net margin of 1.11%. The company had revenue of $58.20 million during the quarter, compared to analysts’ expectations of $57.47 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. equities analysts forecast that SPS Commerce will post 0.87 earnings per share for the current fiscal year.
SPS Commerce announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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