SPS Commerce (NASDAQ:SPSC) Price Target Lowered to $76.00 at Citigroup

Key Points

• Citigroup cut its price target for SPS Commerce from $84 to $76 but kept a "buy" rating, with the new target implying about a 32.19% upside from the prior close.
• Analyst coverage is mixed: the consensus rating is a Hold with an average target of $76.45, and individual price targets range roughly from $60 to $86.
• SPS shares traded down ~2.4% to $57.50; the company beat Q1 EPS at $1.10 versus $0.97 expected, set FY2026 EPS guidance of 4.730–4.760, and insiders have been net sellers recently.

SPS Commerce (NASDAQ:SPSC - Get Free Report) had its price objective decreased by Citigroup from $84.00 to $76.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Citigroup's price target points to a potential upside of 32.19% from the company's previous close.

A number of other brokerages have also commented on SPSC. Wall Street Zen lowered SPS Commerce from a "buy" rating to a "hold" rating in a research note on Monday. Weiss Ratings raised SPS Commerce from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. Robert W. Baird set a $86.00 price target on SPS Commerce in a research note on Friday, February 13th. Cantor Fitzgerald set a $60.00 price target on SPS Commerce and gave the company a "neutral" rating in a research note on Friday. Finally, Rothschild & Co Redburn set a $60.00 price target on SPS Commerce and gave the company a "neutral" rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, SPS Commerce presently has an average rating of "Hold" and an average target price of $76.45.

SPS Commerce Trading Down 2.4%

SPS Commerce stock traded down $1.43 during midday trading on Monday, reaching $57.50. The company's stock had a trading volume of 438,291 shares, compared to its average volume of 724,705. SPS Commerce has a 52 week low of $50.55 and a 52 week high of $153.16. The business has a 50-day moving average price of $57.17 and a 200-day moving average price of $76.76. The stock has a market cap of $2.13 billion, a PE ratio of 23.96 and a beta of 0.58.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Thursday, April 30th. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.13. SPS Commerce had a return on equity of 12.43% and a net margin of 11.92%.The firm had revenue of $192.12 million for the quarter, compared to analysts' expectations of $192.51 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. SPS Commerce has set its FY 2026 guidance at 4.730-4.760 EPS and its Q2 2026 guidance at 1.060-1.090 EPS. As a group, research analysts predict that SPS Commerce will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jamie Thingelstad sold 2,418 shares of SPS Commerce stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $54.94, for a total value of $132,844.92. Following the transaction, the executive vice president directly owned 56,344 shares of the company's stock, valued at $3,095,539.36. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 6,300 shares of SPS Commerce stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $58.66, for a total value of $369,558.00. Following the completion of the transaction, the chief financial officer directly owned 145,452 shares in the company, valued at approximately $8,532,214.32. This represents a 4.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,102 shares of company stock valued at $1,425,328 in the last ninety days. Insiders own 0.98% of the company's stock.

Hedge Funds Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in shares of SPS Commerce in the third quarter worth approximately $28,000. NewEdge Advisors LLC lifted its stake in shares of SPS Commerce by 545.7% in the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker's stock worth $30,000 after acquiring an additional 191 shares during the period. Advisory Services Network LLC acquired a new position in shares of SPS Commerce in the third quarter worth approximately $32,000. Global Retirement Partners LLC lifted its stake in shares of SPS Commerce by 2,130.0% in the fourth quarter. Global Retirement Partners LLC now owns 446 shares of the software maker's stock worth $40,000 after acquiring an additional 426 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of SPS Commerce in the fourth quarter worth approximately $45,000. 98.96% of the stock is owned by institutional investors and hedge funds.

About SPS Commerce

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company's platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.

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