SPS Commerce's (SPSC) "Buy" Rating Reaffirmed at Needham & Company LLC

Key Points

• SPS Commerce's stock received a "buy" rating reaffirmed by Needham & Company LLC, with a price target of $160.00, indicating a potential upside of 49.03%.
• Recent fluctuations in ratings include a downgrade from DA Davidson and upgrades from Wall Street Zen, resulting in a current consensus rating of "Moderate Buy" with an average price target of $165.80.
• SPS Commerce reported strong earnings results, exceeding estimates with $1.00 earnings per share and a revenue increase of 22.0% year-over-year.

SPS Commerce (NASDAQ:SPSC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $160.00 price objective on the software maker's stock. Needham & Company LLC's target price indicates a potential upside of 49.03% from the stock's previous close.

Several other research analysts also recently weighed in on SPSC. DA Davidson downgraded SPS Commerce from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $175.00 to $125.00 in a research note on Thursday, July 31st. Wall Street Zen upgraded SPS Commerce from a "hold" rating to a "buy" rating in a research note on Saturday. 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 for the company. Stifel Nicolaus lowered their price target on SPS Commerce from $175.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Finally, Loop Capital cut SPS Commerce from a "buy" rating to a "hold" rating and lowered their price target for the stock from $175.00 to $120.00 in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $165.80.

SPS Commerce Trading Down 2.6%

Shares of NASDAQ:SPSC opened at $107.36 on Wednesday. SPS Commerce has a 12-month low of $102.05 and a 12-month high of $201.06. The business's fifty day simple moving average is $116.33 and its 200-day simple moving average is $129.73. The company has a market capitalization of $4.07 billion, a PE ratio of 49.25 and a beta of 0.70.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.10. SPS Commerce had a return on equity of 12.10% and a net margin of 11.79%.The firm had revenue of $187.40 million for the quarter, compared to the consensus estimate of $185.88 million. During the same period in the previous year, the business earned $0.80 EPS. The firm's revenue for the quarter was up 22.0% on a year-over-year basis. SPS Commerce has set its FY 2025 guidance at 3.990-4.040 EPS. Q3 2025 guidance at 0.960-1.000 EPS. Research analysts predict that SPS Commerce will post 2.73 EPS for the current year.

Hedge Funds Weigh In On SPS Commerce

Several institutional investors and hedge funds have recently modified their holdings of the stock. Caxton Associates LLP acquired a new position in shares of SPS Commerce in the 2nd quarter valued at about $2,007,000. Public Sector Pension Investment Board lifted its holdings in shares of SPS Commerce by 7.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 129,429 shares of the software maker's stock valued at $17,614,000 after buying an additional 9,082 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of SPS Commerce by 715.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,271 shares of the software maker's stock valued at $853,000 after buying an additional 5,502 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of SPS Commerce by 101.3% in the 2nd quarter. Corient Private Wealth LLC now owns 7,340 shares of the software maker's stock valued at $999,000 after buying an additional 3,694 shares during the period. Finally, State of Tennessee Department of Treasury increased its stake in shares of SPS Commerce by 4.6% in the 2nd quarter. State of Tennessee Department of Treasury now owns 17,133 shares of the software maker's stock valued at $2,332,000 after purchasing an additional 758 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

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.

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