Research analysts at Oppenheimer Holdings Inc. initiated coverage on shares of SPS Commerce, Inc. (NASDAQ:SPSC) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $74.00 price target on the software maker’s stock. Oppenheimer Holdings Inc.’s target price indicates a potential upside of 25.55% from the stock’s current price.
SPSC has been the topic of a number of other research reports. Zacks Investment Research cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Benchmark Co. cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Needham & Company LLC decreased their target price on shares of SPS Commerce from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. SPS Commerce has an average rating of “Buy” and a consensus target price of $74.33.
SPS Commerce (NASDAQ SPSC) opened at 58.94 on Thursday. The firm has a market cap of $1.01 billion, a P/E ratio of 133.95 and a beta of 1.22. The firm’s 50-day moving average price is $61.28 and its 200 day moving average price is $60.45. SPS Commerce has a 12-month low of $48.11 and a 12-month high of $74.85.
SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, April 27th. The software maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The firm had revenue of $51.90 million for the quarter, compared to analysts’ expectations of $51.82 million. SPS Commerce had a net margin of 5.72% and a return on equity of 4.56%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Analysts forecast that SPS Commerce will post $0.85 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of the company. Aperio Group LLC raised its position in shares of SPS Commerce by 12.1% in the second quarter. Aperio Group LLC now owns 12,085 shares of the software maker’s stock worth $771,000 after buying an additional 1,308 shares during the period. State of Alaska Department of Revenue raised its position in shares of SPS Commerce by 78.7% in the second quarter. State of Alaska Department of Revenue now owns 3,396 shares of the software maker’s stock worth $216,000 after buying an additional 1,496 shares during the period. Simplex Trading LLC raised its position in shares of SPS Commerce by 137.4% in the second quarter. Simplex Trading LLC now owns 4,503 shares of the software maker’s stock worth $287,000 after buying an additional 2,606 shares during the period. Bank of Montreal Can raised its position in shares of SPS Commerce by 1.1% in the second quarter. Bank of Montreal Can now owns 3,668 shares of the software maker’s stock worth $233,000 after buying an additional 41 shares during the period. Finally, Blueport Capital L.P. raised its position in shares of SPS Commerce by 28.3% in the first quarter. Blueport Capital L.P. now owns 2,382 shares of the software maker’s stock worth $139,000 after buying an additional 525 shares during the period. Institutional investors own 99.01% of the company’s stock.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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