SPS Commerce (SPSC) Raised to “Buy” at BidaskClub
BidaskClub upgraded shares of SPS Commerce (NASDAQ:SPSC) from a hold rating to a buy rating in a report issued on Thursday.
Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of SPS Commerce from a hold rating to a strong-buy rating and set a $56.00 price target on the stock in a report on Wednesday, November 1st. ValuEngine downgraded shares of SPS Commerce from a hold rating to a sell rating in a report on Sunday, December 31st. Oppenheimer reiterated a buy rating and set a $62.00 price target on shares of SPS Commerce in a report on Thursday, January 25th. Finally, Canaccord Genuity cut their price target on shares of SPS Commerce from $62.00 to $57.00 and set a hold rating on the stock in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. SPS Commerce currently has a consensus rating of Hold and an average price target of $66.43.
Shares of SPS Commerce (NASDAQ:SPSC) traded up $0.10 during trading hours on Thursday, reaching $62.67. 5,191 shares of the company traded hands, compared to its average volume of 141,967. The company has a market cap of $1,079.37, a P/E ratio of 139.04, a price-to-earnings-growth ratio of 3.35 and a beta of 0.91. SPS Commerce has a one year low of $45.02 and a one year high of $64.85.
A number of institutional investors have recently added to or reduced their stakes in the business. J. Goldman & Co LP purchased a new stake in SPS Commerce in the 4th quarter valued at about $2,971,000. Disciplined Growth Investors Inc. MN boosted its position in SPS Commerce by 2.4% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 145,506 shares of the software maker’s stock valued at $7,070,000 after buying an additional 3,431 shares during the period. MetLife Investment Advisors LLC purchased a new stake in SPS Commerce in the 4th quarter valued at about $367,000. Tensile Capital Management LLC purchased a new stake in SPS Commerce in the 4th quarter valued at about $13,875,000. Finally, Millennium Management LLC boosted its position in SPS Commerce by 39.9% in the 4th quarter. Millennium Management LLC now owns 353,420 shares of the software maker’s stock valued at $17,173,000 after buying an additional 100,878 shares during the period. 98.26% of the stock is owned by institutional investors.
About SPS Commerce
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.
Receive News & Ratings for SPS Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPS Commerce and related companies with MarketBeat.com's FREE daily email newsletter.