Needham & Company LLC Has Lowered Expectations for SPS Commerce (NASDAQ:SPSC) Stock Price

SPS Commerce (NASDAQ:SPSC) had its price target reduced by research analysts at Needham & Company LLC from $230.00 to $210.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 37.31% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Piper Sandler assumed coverage on SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price for the company. Robert W. Baird boosted their target price on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Stifel Nicolaus dropped their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Northland Securities reiterated a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday. Finally, Citigroup dropped their price objective on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Stock Performance

Shares of SPSC opened at $152.94 on Tuesday. The stock has a fifty day moving average price of $186.73 and a two-hundred day moving average price of $189.28. SPS Commerce has a 52-week low of $147.27 and a 52-week high of $218.61. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 73.18 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. As a group, research analysts predict that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the transaction, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the transaction, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at $26,620,592.18. This represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,230 shares of company stock valued at $6,379,187. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SPSC. Norges Bank acquired a new position in shares of SPS Commerce during the fourth quarter worth about $81,543,000. JPMorgan Chase & Co. boosted its position in shares of SPS Commerce by 99.3% during the fourth quarter. JPMorgan Chase & Co. now owns 507,014 shares of the software maker’s stock worth $93,286,000 after buying an additional 252,575 shares during the period. Franklin Resources Inc. boosted its position in shares of SPS Commerce by 94.5% during the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after buying an additional 210,284 shares during the period. Raymond James Financial Inc. acquired a new position in shares of SPS Commerce during the fourth quarter worth about $27,441,000. Finally, Geneva Capital Management LLC boosted its position in shares of SPS Commerce by 31.1% during the fourth quarter. Geneva Capital Management LLC now owns 581,801 shares of the software maker’s stock worth $107,045,000 after buying an additional 138,014 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

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.