SPS Commerce (NASDAQ:SPSC) announced that its Board of Directors has initiated a share repurchase program, which permits the company to buyback $50.00 million in shares on Thursday, November 2nd, EventVestor reports. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
Shares of SPS Commerce (NASDAQ:SPSC) opened at $47.89 on Thursday. The firm has a market cap of $840.20, a PE ratio of 73.91, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07. SPS Commerce has a 1 year low of $45.03 and a 1 year high of $73.16.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $56.15 million during the quarter, compared to analysts’ expectations of $56.15 million. SPS Commerce had a net margin of 3.97% and a return on equity of 4.25%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. equities research analysts forecast that SPS Commerce will post 0.59 earnings per share for the current year.
A number of equities research analysts recently issued reports on SPSC shares. CIBC started coverage on shares of SPS Commerce in a research report on Friday, July 21st. They set an “outperform” rating and a $74.00 target price for the company. BidaskClub cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Oppenheimer Holdings, Inc. set a $74.00 target price on shares of SPS Commerce and gave the stock a “buy” rating in a research report on Friday, July 28th. Northland Securities set a $84.00 target price on shares of SPS Commerce and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, ValuEngine cut shares of SPS Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.78.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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