SPS Commerce, Inc. (SPSC) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of SPS Commerce, Inc. (NASDAQ:SPSC) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday. The brokerage currently has $56.00 price objective on the software maker’s stock.
According to Zacks, “SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to its customers worldwide. The Company delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The Company’s delivery model also enables it to offer greater functionality, integration and reliability with less cost and risk than traditional solutions. The Company provides its solutions through SPSCommerce.net, a hosted software. SPSCommerce.net uses pre-built integrations to eliminate the need for on-premise software and support staff, which enables its supplier customers to shorten supply cycle times, optimize inventory levels, reduce costs and satisfy retailer requirements. SPS Commerce is headquartered in Minneapolis. “
A number of other research analysts also recently commented on the company. CIBC started coverage on SPS Commerce in a research note on Friday, July 21st. They issued an outperform rating and a $74.00 price target for the company. Oppenheimer Holdings, Inc. set a $74.00 price target on SPS Commerce and gave the company a buy rating in a research note on Friday, July 28th. BidaskClub downgraded SPS Commerce from a buy rating to a hold rating in a research note on Wednesday, July 19th. Northland Securities set a $84.00 price target on SPS Commerce and gave the company a buy rating in a research note on Thursday, July 27th. Finally, ValuEngine downgraded SPS Commerce from a hold rating to a sell rating in a research note on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $69.78.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $56.15 million during the quarter, compared to the consensus estimate of $56.15 million. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. SPS Commerce’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. raised its stake in SPS Commerce by 1.1% during the second quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock worth $145,000 after acquiring an additional 24 shares in the last quarter. Bank of Montreal Can raised its stake in SPS Commerce by 1.1% during the second quarter. Bank of Montreal Can now owns 3,668 shares of the software maker’s stock worth $233,000 after acquiring an additional 41 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in SPS Commerce by 1.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 3,890 shares of the software maker’s stock worth $228,000 after acquiring an additional 70 shares in the last quarter. Zacks Investment Management raised its stake in SPS Commerce by 0.4% during the second quarter. Zacks Investment Management now owns 20,204 shares of the software maker’s stock worth $1,288,000 after acquiring an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in SPS Commerce by 1.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,042 shares of the software maker’s stock worth $294,000 after acquiring an additional 81 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.
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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