Stifel lowered the firm’s price target on SPS Commerce (SPSC) to $225 from $250 and keeps a Buy rating on the shares after the company announced its acquisition of Carbon6 Technologies for about $126M in cash and $84M in stock. The firm, which continues to believe SPS will announce an expanded total addressable market in 2025, says it will look for more visibility on the company’s organic growth outlook when it reports Q4 earnings.
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Read More on SPSC:
- SPS Commerce Expands with Carbon6 Technologies Acquisition
- SPS Commerce to acquire Carbon6 Technologies for $210M
- Block, Five Below downgraded: Wall Street’s top analyst calls
- SPS Commerce initiated with a Neutral at Piper Sandler
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
