SPS Commerce (NASDAQ:SPSC) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of SPS Commerce (NASDAQ:SPSC - Get Free Report) in a research note issued on Monday, MarketBeat reports. The brokerage set an "overweight" rating and a $180.00 price target on the software maker's stock. Morgan Stanley's price target would indicate a potential upside of 27.77% from the company's previous close.

A number of other analysts also recently weighed in on SPSC. Cantor Fitzgerald assumed coverage on shares of SPS Commerce in a report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $210.00 price objective on shares of SPS Commerce in a research report on Friday, April 25th. Robert W. Baird raised their price objective on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Finally, DA Davidson lowered their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $191.30.

SPS Commerce Stock Performance

Shares of SPSC stock traded up $9.15 during trading on Monday, hitting $140.88. The company had a trading volume of 533,777 shares, compared to its average volume of 327,016. The firm has a market capitalization of $5.35 billion, a P/E ratio of 65.83 and a beta of 0.71. The stock's 50-day moving average price is $140.96 and its 200 day moving average price is $148.20. SPS Commerce has a one year low of $120.08 and a one year high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.15. SPS Commerce had a return on equity of 12.37% and a net margin of 12.13%. The company had revenue of $181.55 million for the quarter, compared to analysts' expectations of $179.57 million. During the same quarter last year, the business earned $0.86 earnings per share. SPS Commerce's revenue was up 21.4% on a year-over-year basis. On average, research analysts anticipate that SPS Commerce will post 2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SPS Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of SPS Commerce by 91.7% in the second quarter. GAMMA Investing LLC now owns 859 shares of the software maker's stock worth $117,000 after purchasing an additional 411 shares during the last quarter. UMB Bank n.a. raised its position in SPS Commerce by 60.6% during the 2nd quarter. UMB Bank n.a. now owns 212 shares of the software maker's stock worth $29,000 after purchasing an additional 80 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in SPS Commerce by 35.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 70,544 shares of the software maker's stock worth $9,600,000 after buying an additional 18,420 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of SPS Commerce in the 2nd quarter valued at about $392,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of SPS Commerce by 41.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 316 shares of the software maker's stock valued at $43,000 after buying an additional 92 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.