Fintel reports that on July 27, 2023, Needham reiterated coverage of SPS Commerce (NASDAQ:SPSC) with a Buy recommendation.
Analyst Price Forecast Suggests 0.86% Downside
As of July 6, 2023, the average one-year price target for SPS Commerce is 171.36. The forecasts range from a low of 154.53 to a high of $215.25. The average price target represents a decrease of 0.86% from its latest reported closing price of 172.84.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SPS Commerce is 534MM, an increase of 13.27%. The projected annual non-GAAP EPS is 2.51.
What is the Fund Sentiment?
There are 759 funds or institutions reporting positions in SPS Commerce. This is an increase of 39 owner(s) or 5.42% in the last quarter. Average portfolio weight of all funds dedicated to SPSC is 0.36%, an increase of 2.64%. Total shares owned by institutions decreased in the last three months by 1.33% to 45,073K shares. 
The put/call ratio of SPSC is 2.77, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,626K shares representing 7.19% ownership of the company. In it's prior filing, the firm reported owning 2,671K shares, representing a decrease of 1.72%. The firm increased its portfolio allocation in SPSC by 13.28% over the last quarter.
Neuberger Berman Group holds 2,006K shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 2,010K shares, representing a decrease of 0.19%. The firm increased its portfolio allocation in SPSC by 11.97% over the last quarter.
Conestoga Capital Advisors holds 1,586K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 1,579K shares, representing an increase of 0.41%. The firm increased its portfolio allocation in SPSC by 106,474.71% over the last quarter.
NBGNX - Neuberger Berman Genesis Fund Investor Class holds 1,146K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 1,288K shares, representing a decrease of 12.33%. The firm increased its portfolio allocation in SPSC by 0.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,128K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,097K shares, representing an increase of 2.75%. The firm increased its portfolio allocation in SPSC by 12.60% over the last quarter.
SPS Commerce Background Information
(This description is provided by the company.)
SPS Commerce is the world's leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. The company supports data-driven partnerships with innovative cloud technology, customer-obsessed service and accessible experts so its customers can focus on what they do best. To date, more than 95,000 companies in retail, distribution, grocery and e-commerce have chosen SPS as their retail network. SPS has achieved 80 consecutive quarters of revenue growth and is headquartered in Minneapolis.
Additional reading:
- July 5, 2023
- SPS COMMERCE, INC. EXECUTIVE SEVERANCE AND CHANGE IN CONTROL AGREEMENT
- SPS Commerce Appoints Chad Collins as Chief Executive Officer Archie Black to transition to Executive Chair of the Board, as previously announced
- SPS Commerce Reports First Quarter 2023 Financial Results Company delivers 89th consecutive quarter of topline growth Revenue growth of 20% year-over-year; Recurring revenue growth of 20% year-over-year
- Amendment to Amended and Restated Executive Severance and Change in Control Agreement, dated as of March 1, 2023, by and between Archie C. Black and SPS Commerce, Inc.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
