Needham & Company LLC Reiterates “Buy” Rating for SPS Commerce (NASDAQ:SPSC)

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $210.00 price target on the software maker’s stock. Needham & Company LLC’s target price would suggest a potential upside of 55.56% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird reduced their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Piper Sandler lowered their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Northland Securities reaffirmed a “market perform” rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Citigroup cut their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, Stifel Nicolaus dropped their price target on SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Trading Down 0.2 %

SPS Commerce stock opened at $135.00 on Wednesday. The company has a market capitalization of $5.10 billion, a P/E ratio of 66.18 and a beta of 0.92. SPS Commerce has a 1-year low of $122.58 and a 1-year high of $218.61. The firm’s fifty day simple moving average is $156.37 and its 200-day simple moving average is $176.80.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. On average, equities research analysts predict that SPS Commerce will post 2.73 earnings per share for the current year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the transaction, the chief financial officer now owns 156,292 shares in the company, valued at approximately $28,864,006.56. The trade was a 5.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chadwick Collins sold 2,840 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,864 shares of company stock worth $6,613,078 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SPSC. Advisors Asset Management Inc. increased its position in SPS Commerce by 129.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $40,000. Hurley Capital LLC acquired a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $41,000. Blue Trust Inc. boosted its position in SPS Commerce by 49.1% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after buying an additional 84 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of SPS Commerce in the 4th quarter valued at $57,000. 98.96% of the stock is owned by institutional investors.

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.