SPS Commerce (NASDAQ:SPSC) Updates Q2 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.750-0.760 for the period, compared to the consensus estimate of 0.760. The company issued revenue guidance of $150.9 million-$151.7 million, compared to the consensus revenue estimate of $151.2 million. SPS Commerce also updated its FY 2024 guidance to 3.280-3.320 EPS.

SPS Commerce Trading Down 1.0 %

Shares of NASDAQ:SPSC traded down $1.69 during midday trading on Thursday, reaching $169.43. 224,409 shares of the company were exchanged, compared to its average volume of 174,368. The business’s fifty day moving average is $179.79 and its two-hundred day moving average is $179.11. SPS Commerce has a one year low of $140.00 and a one year high of $218.74. The stock has a market cap of $6.28 billion, a PE ratio of 95.76 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a net margin of 12.26% and a return on equity of 12.18%. The firm had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. As a group, sell-side analysts expect that SPS Commerce will post 2.13 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SPSC shares. StockNews.com downgraded shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Needham & Company LLC restated a buy rating and issued a $205.00 price target on shares of SPS Commerce in a report on Friday, February 9th. Finally, Citigroup initiated coverage on shares of SPS Commerce in a report on Wednesday, March 13th. They issued a buy rating and a $216.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $199.67.

Insiders Place Their Bets

In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the transaction, the chief operating officer now directly owns 44,369 shares in the company, valued at approximately $7,954,030.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO James J. Frome sold 12,887 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.27, for a total value of $2,310,252.49. Following the sale, the chief operating officer now directly owns 44,369 shares in the company, valued at approximately $7,954,030.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kimberly K. Nelson sold 12,907 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.41, for a total transaction of $2,315,644.87. Following the completion of the transaction, the chief financial officer now directly owns 157,251 shares of the company’s stock, valued at $28,212,401.91. The disclosure for this sale can be found here. Insiders have sold a total of 66,688 shares of company stock worth $12,122,275 in the last three months. Corporate insiders own 1.00% of the company’s stock.

About SPS Commerce

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.