Pacific Crest Starts SPS Commerce (SPSC) at Overweight
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Pacific Crest initiated coverage on SPS Commerce (NASDAQ: SPSC) with an Overweight rating and a price target of $85. Analyst Monika Garg highlighted its attractive cloud model, along with growth.
"SPS Commerce provides essential cloud-based solutions to the retail ecosystem. SPS Commerce has a predictable recurring-revenue model and a 100% SaaS-based solution that generates advantages over its much larger competitors, while maintaining 20% y/y growth and profitability. We are initiating SPSC at Overweight with an $85 price target based on 4.8x 2018 EV/sales," said Garg.
Shares of SPS Commerce closed at $73.65 yesterday.
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