SPS Commerce (NASDAQ:SPSC) Upgraded at Wall Street Zen

SPS Commerce (NASDAQ:SPSC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

A number of other research analysts have also recently commented on SPSC. Robert W. Baird upped their price target on SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Cantor Fitzgerald initiated coverage on SPS Commerce in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target on the stock. DA Davidson dropped their price target on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $210.00 price target on shares of SPS Commerce in a research report on Friday, April 25th. Finally, Morgan Stanley initiated coverage on SPS Commerce in a research report on Monday, July 14th. They set an "overweight" rating and a $180.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $191.30.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $138.98 on Friday. The company has a market capitalization of $5.28 billion, a PE ratio of 64.94 and a beta of 0.71. The business has a fifty day moving average price of $140.61 and a two-hundred day moving average price of $147.17. SPS Commerce has a 1 year low of $120.09 and a 1 year high of $218.61.

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

Hedge Funds Weigh In On SPS Commerce

A number of institutional investors have recently added to or reduced their stakes in SPSC. Commonwealth Equity Services LLC increased its stake in SPS Commerce by 36.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,615 shares of the software maker's stock worth $665,000 after acquiring an additional 966 shares during the last quarter. Cibc World Markets Corp bought a new position in SPS Commerce in the 4th quarter worth about $649,000. Xponance Inc. increased its stake in SPS Commerce by 11.7% in the 4th quarter. Xponance Inc. now owns 2,717 shares of the software maker's stock worth $500,000 after acquiring an additional 284 shares during the last quarter. Teacher Retirement System of Texas increased its stake in SPS Commerce by 2.4% in the 4th quarter. Teacher Retirement System of Texas now owns 40,877 shares of the software maker's stock worth $7,521,000 after acquiring an additional 955 shares during the last quarter. Finally, Magnetar Financial LLC increased its stake in SPS Commerce by 20.7% in the 4th quarter. Magnetar Financial LLC now owns 3,348 shares of the software maker's stock worth $616,000 after acquiring an additional 575 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.