SPS Commerce initiated with a Neutral at Piper Sandler

Piper Sandler initiated coverage of SPS Commerce (SPSC) with a Neutral rating and $198 price target SPS provides electronic data interchange software that connects suppliers with trading partners, the analyst tells investors in a research note. The firm says the company’s net-new customer adds have materially slowed in fiscal 2024. The Street is imbedding a significant bounce-back in fiscal 2025 net-adds, which Piper views as slightly aggressive. As such, it believes the shares are near fair value.

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Read More on SPSC:

• SPS Commerce management to meet virtually with Loop Capital
• SPS Commerce price target raised to $188 from $186 at Baird
• SPS Commerce sees Q4 EPS 83c-84c, consensus 87c
• SPS Commerce sees FY24 EPS $3.41-$3.42, consensus $3.36
• SPS Commerce reports Q3 EPS 92c, consensus 83c