According to Fintel, on September 19, 2023, Needham reaffirmed their coverage of SPS Commerce (NASDAQ:SPSC) with a Buy recommendation.
The average one-year price target for SPS Commerce is $197.71, suggesting an upside potential of 11.79% from its latest closing price of $176.86.
For SPS Commerce, the projected annual revenue is $534 million, an increase of 8.39%. The projected annual non-GAAP EPS is $2.51.
There are currently 769 funds or institutions holding positions in SPS Commerce, which is an increase of 25 owners or 3.36% in the last quarter. The average portfolio weight of all funds dedicated to SPSC is 0.40%, representing a 13.05% increase. Institutions now own a total of 45,634,000 shares, a 0.96% increase in the last three months. The put/call ratio for SPSC is 2.86, indicating a bearish outlook.
Notable shareholders of SPS Commerce include:
- IJR – iShares Core S&P Small-Cap ETF, which holds 2,559,000 shares, representing 6.98% ownership. This is a decrease of 2.58% from their previous filing, and they increased their portfolio allocation by 19.05% over the last quarter.
- Neuberger Berman Group, which holds 1,810,000 shares, representing 4.94% ownership. This is a decrease of 10.83% from their previous filing, and they increased their portfolio allocation by 9.71% over the last quarter.
- Conestoga Capital Advisors, which holds 1,573,000 shares, representing 4.29% ownership. This is a decrease of 0.78% from their previous filing, and they increased their portfolio allocation by 18.62% over the last quarter.
- NBGNX – Neuberger Berman Genesis Fund Investor Class, which holds 1,146,000 shares, representing 3.13% ownership. This is a decrease of 12.33% from their previous filing, and they increased their portfolio allocation by 0.83% over the last quarter.
- VTSMX – Vanguard Total Stock Market Index Fund Investor Shares, which holds 1,132,000 shares, representing 3.09% ownership. This is an increase of 0.29% from their previous filing, and they increased their portfolio allocation by 16.69% over the last quarter.
About SPS Commerce:
SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. They offer data-driven partnerships with innovative cloud technology, customer-focused service, and accessible experts. Over 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.
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This story originally appeared on Fintel.
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