SPS Commerce (NASDAQ:SPSC) Releases Q3 Earnings Guidance
SPS Commerce (NASDAQ:SPSC) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.32-0.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.33. The company issued revenue guidance of $76.6-77.1 million, compared to the consensus revenue estimate of $75.68 million.SPS Commerce also updated its FY 2020
After-Hours guidance to 1.41-1.42 EPS.
Several brokerages recently issued reports on SPSC. Needham & Company LLC reissued a buy rating on shares of SPS Commerce in a research note on Friday. Oppenheimer began coverage on SPS Commerce in a research note on Friday. They issued a hold rating for the company. BidaskClub downgraded SPS Commerce from a strong-buy rating to a buy rating in a research note on Wednesday, July 15th. ValuEngine downgraded SPS Commerce from a buy rating to a hold rating in a research note on Tuesday, April 14th. Finally, Craig Hallum reduced their price objective on SPS Commerce from $71.00 to $65.00 and set a buy rating for the company in a research note on Monday, April 27th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $70.11.
Shares of SPSC traded up $1.85 during midday trading on Friday, reaching $75.17. 340,551 shares of the stock were exchanged, compared to its average volume of 183,047. SPS Commerce has a 12-month low of $31.28 and a 12-month high of $77.59. The firm has a 50 day simple moving average of $73.35 and a 200-day simple moving average of $59.40. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 70.25, a P/E/G ratio of 5.06 and a beta of 0.87.
In other news, CEO Archie C. Black sold 1,390 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $62.54, for a total transaction of $86,930.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Philip Soran sold 7,120 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $72.76, for a total value of $518,051.20. Following the transaction, the director now directly owns 23,030 shares in the company, valued at approximately $1,675,662.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,498 shares of company stock worth $6,569,540. 7.20% of the stock is currently owned by insiders.
About SPS Commerce
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.
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