SPS Commerce (NASDAQ:SPSC) Issues FY 2024 Earnings Guidance

SPS Commerce (NASDAQ:SPSC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.280-3.320 for the period, compared to the consensus EPS estimate of 3.160. The company issued revenue guidance of $619.9 million-$621.9 million, compared to the consensus revenue estimate of $618.9 million. SPS Commerce also updated its FY24 guidance to $3.28-3.32 EPS.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPSC. Needham & Company LLC reissued a buy rating and issued a $205.00 price target on shares of SPS Commerce in a report on Friday, February 9th. Citigroup initiated coverage on SPS Commerce in a research note on Wednesday, March 13th. They set a buy rating and a $216.00 target price on the stock. Finally, StockNews.com downgraded SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, SPS Commerce currently has an average rating of Moderate Buy and an average target price of $199.67.

SPS Commerce Price Performance

Shares of NASDAQ SPSC traded down $1.69 during trading hours on Thursday, hitting $169.43. 224,409 shares of the company’s stock were exchanged, compared to its average volume of 174,368. SPS Commerce has a 1-year low of $140.00 and a 1-year high of $218.74. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 95.76 and a beta of 0.79. The company’s 50-day moving average price is $179.79 and its 200-day moving average price is $179.11.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. On average, research analysts expect that SPS Commerce will post 2.13 earnings per share for the current year.

Insider Transactions at SPS Commerce

In related news, COO James J. Frome sold 12,887 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total transaction 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 filing with the SEC, which can be accessed through this hyperlink. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following the transaction, the director now directly owns 15,747 shares in the company, valued at approximately $3,102,631.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James J. Frome sold 12,887 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 44,369 shares in the company, valued at $7,954,030.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,688 shares of company stock valued at $12,122,275. Corporate insiders own 1.00% 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.