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.
Fintel is a comprehensive investing research platform that provides data on fundamentals, analyst reports, ownership data, fund sentiment, options sentiment, insider trading, and more. They also offer exclusive stock picks powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
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