Needham & Company a Fan of SPS Commerce Inc. (SPSC) Acquisition of Edifice

August 8, 2012 9:40 AM EDT
Get Alerts SPSC Hot Sheet
Price: $70.60 +0.44%

Rating Summary:
    8 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Today Needham & Company maintained a Buy rating on SPS Commerce (NASDAQ: SPSC) and raised their price target to $37.00 (from $34.00).

SPSC recently announced the strategic acquisition of privately held, SaaS POS analytics vendor Edifice for $37.7 million ($26.3 million in cash and $11.4
million in stock), or roughly 3x forward revs.

"We’re fans of the acquisition because it accelerates SPSC’s push up–market and enhances/deepens its higher margin point-of-sale (POS) analytics offering overnight with better breadth of retailer POS data and likely enhanced feature/functionality well suited for larger, more sophisticated suppliers," said analyst Michael Huang.

For an analyst ratings summary and ratings history on SPS Commerce click here. For more ratings news on SPS Commerce click here.

Shares of SPS Commerce closed at $31.89 yesterday.

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