SPS Commerce (SPSC)

• Market cap: $7.34B
• 1 day: 2.35%
• 5 days: 8.84%
• 1 month: 5.01%
• 3 months: 1.31%
• 6 months: -5.42%
• Year to date: 6.93%
• 1 year: 3.72%
• 5 years: 242.71%
• 10 years: 576.64%
• Sector: Information Technology
• Industry: Prepackaged Software

About: SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. Its products are; Fulfillment, Analytics, and Other products like Assortment and Community also it provides one-time services such as professional services and testing and certification. The group derives revenue from recurring monthly fees and set-up fees.

Employees: 2,489

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

56% more call options, than puts

Call options by funds: $1.67M | Put options by funds: $1.07M

48% more first-time investments, than exits

New positions opened: 49 | Existing positions closed: 33

2% more funds holding

Funds holding: 444 [Q2] → 453 (+9) [Q3]

1% more capital invested

Capital invested by funds: $7.05B [Q2] → $7.1B (+$47.6M) [Q3]

1% less repeat investments, than reductions

Existing positions increased: 172 | Existing positions reduced: 174

2.82% less ownership

Funds ownership: 101.57% [Q2] → 98.75% (-2.82%) [Q3]

25% less funds holding in top 10

Funds holding in top 10: 4 [Q2] → 3 (-1) [Q3]

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $188 4% downside
• Avg. target: $210 8% upside
• High target: $230 18% upside

4 analyst ratings

• positive: 2 50%
• neutral: 2 50%
• negative: 0 0%

Needham Scott Berg 60% 1-year accuracy 96 / 159 met price target	18% upside $230	Buy Reiterated	15 Jan 2025
Stifel Parker Lane 64% 1-year accuracy 30 / 47 met price target	15% upside $225	Buy Maintained	3 Jan 2025
Piper Sandler Quinton Gabrielli 0% 1-year accuracy 0 / 1 met price target	1% upside $198	Neutral Initiated	25 Nov 2024
Baird Joe Vruwink 38% 1-year accuracy 16 / 42 met price target	4% downside $188	Neutral Maintained	28 Oct 2024