Morgan Stanley Maintains SPS Commerce (SPSC) Overweight Recommendation
Fintel reports that on October 14, 2025, Morgan Stanley maintained coverage of SPS Commerce (NasdaqGS:SPSC) with a Overweight recommendation.
Analyst Price Forecast Suggests 40.80% Upside
As of September 29, 2025, the average one-year price target for SPS Commerce is $153.98/share. The forecasts range from a low of $121.20 to a high of $194.82. The average price target represents an increase of 40.80% from its latest reported closing price of $109.36 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SPS Commerce is 668MM, a decrease of 5.00%. The projected annual non-GAAP EPS is 3.22.
What is the Fund Sentiment?
There are 858 funds or institutions reporting positions in SPS Commerce. This is an increase of 2 owner(s) or 0.23% in the last quarter. Average portfolio weight of all funds dedicated to SPSC is 0.23%, an increase of 11.39%. Total shares owned by institutions increased in the last three months by 1.37% to 50,097K shares. 
The put/call ratio of SPSC is 0.17, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,262K shares representing 5.97% ownership of the company. In its prior filing, the firm reported owning 2,345K shares , representing a decrease of 3.68%. The firm decreased its portfolio allocation in SPSC by 1.95% over the last quarter.
Nordea Investment Management Ab holds 1,330K shares representing 3.51% ownership of the company. In its prior filing, the firm reported owning 220K shares , representing an increase of 83.48%. The firm increased its portfolio allocation in SPSC by 96.77% over the last quarter.
Conestoga Capital Advisors holds 1,251K shares representing 3.30% ownership of the company. In its prior filing, the firm reported owning 1,260K shares , representing a decrease of 0.75%. The firm decreased its portfolio allocation in SPSC by 0.31% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,217K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 1,191K shares , representing an increase of 2.13%. The firm decreased its portfolio allocation in SPSC by 6.53% over the last quarter.
Neuberger Berman Group holds 1,113K shares representing 2.94% ownership of the company. In its prior filing, the firm reported owning 1,583K shares , representing a decrease of 42.13%. The firm decreased its portfolio allocation in SPSC by 65.73% over the last quarter.
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This story originally appeared on Fintel.