SPS Commerce (SPSC): Management Meetings Highlight A Return To 20% Growth - Needham
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Needham & Company analyst, Scott Berg, reiterated his Buy rating on shares of SPS Commerce (NASDAQ: SPSC) but raised the price target to $83.00 from $70.00. The analyst hosted investor meetings with CEO, Archie Black. The meetings supported the analyst's thesis that significant customer demand trends combined with a well positioned product can sustain the company's desired 20% organic revenue growth profile for several years.
Meetings highlighted significant technology demand by retailers and suppliers trying to meet shifting consumer purchasing preferences and a push up-market driven by partners as larger suppliers seek more flexible solutions provided by Cloud vendors such as SPS. Management remains confident it has fixed the constrained sales capacity issues exiting FY15 which recent metrics support and that it can re-attain its coveted 20% growth level in 2H17.
Shares of SPS Commerce closed at $72.71 yesterday.
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