SPS Commerce (NASDAQ:SPSC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
A number of other equities research analysts also recently weighed in on the company. ValuEngine upgraded SPS Commerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 27th. Oppenheimer boosted their target price on SPS Commerce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Canaccord Genuity boosted their target price on SPS Commerce from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Benchmark boosted their target price on SPS Commerce to $98.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, First Analysis set a $86.00 target price on SPS Commerce and gave the stock a “neutral” rating in a research report on Thursday, October 4th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. SPS Commerce has an average rating of “Buy” and a consensus target price of $90.00.
SPSC stock opened at $93.09 on Tuesday. The firm has a market cap of $1.67 billion, a PE ratio of 221.64, a PEG ratio of 4.18 and a beta of 0.75. SPS Commerce has a twelve month low of $45.02 and a twelve month high of $100.68.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPSC. Harvest Fund Management Co. Ltd bought a new stake in SPS Commerce in the third quarter valued at about $114,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in SPS Commerce in the third quarter valued at about $119,000. First Quadrant L P CA bought a new stake in SPS Commerce in the third quarter valued at about $151,000. NumerixS Investment Technologies Inc bought a new stake in SPS Commerce in the second quarter valued at about $156,000. Finally, Macquarie Group Ltd. increased its holdings in SPS Commerce by 223.7% in the second quarter. Macquarie Group Ltd. now owns 2,564 shares of the software maker’s stock valued at $188,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.
SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
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