SPS Commerce (NASDAQ:SPSC) Given New $165.00 Price Target at Stifel Nicolaus

Key Points

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SPS Commerce (NASDAQ:SPSC - Get Free Report) had its price objective reduced by stock analysts at Stifel Nicolaus from $175.00 to $165.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Stifel Nicolaus' target price would indicate a potential upside of 59.42% from the stock's current price.

A number of other brokerages also recently commented on SPSC. DA Davidson lowered their target price on SPS Commerce from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley assumed coverage on SPS Commerce in a research note on Monday, July 14th. They set an "overweight" rating and a $180.00 price target for the company. Loop Capital downgraded SPS Commerce from a "buy" rating to a "hold" rating and decreased their price target for the stock from $175.00 to $120.00 in a research note on Thursday. Cantor Fitzgerald assumed coverage on SPS Commerce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $170.00 price target for the company. Finally, Wall Street Zen upgraded SPS Commerce from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, SPS Commerce presently has a consensus rating of "Moderate Buy" and an average target price of $165.80.

SPS Commerce Trading Down 0.4%

NASDAQ SPSC traded down $0.38 on Thursday, reaching $103.50. The stock had a trading volume of 62,248 shares, compared to its average volume of 336,728. The business has a 50 day moving average price of $137.36 and a 200 day moving average price of $143.05. SPS Commerce has a 1 year low of $102.05 and a 1 year high of $204.20. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 47.47 and a beta of 0.71.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The software maker reported $1.00 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company posted $0.80 earnings per share. The business's quarterly revenue was up 22.0% compared to the same quarter last year. On average, analysts anticipate that SPS Commerce will post 2.73 earnings per share for the current fiscal year.

Institutional Trading of SPS Commerce

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in SPS Commerce by 11.8% during the 1st quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker's stock valued at $43,991,000 after purchasing an additional 34,859 shares during the period. KBC Group NV boosted its stake in SPS Commerce by 8.1% during the 1st quarter. KBC Group NV now owns 1,651 shares of the software maker's stock valued at $219,000 after purchasing an additional 124 shares during the period. SG Americas Securities LLC bought a new stake in SPS Commerce during the 1st quarter valued at approximately $1,045,000. First Trust Advisors LP boosted its stake in SPS Commerce by 202.0% during the 4th quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock valued at $1,046,000 after purchasing an additional 3,801 shares during the period. Finally, LPL Financial LLC boosted its stake in SPS Commerce by 13.0% during the 4th quarter. LPL Financial LLC now owns 46,561 shares of the software maker's stock valued at $8,674,000 after purchasing an additional 5,353 shares during the period. Institutional investors 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.