SPS Commerce (SPSC): Management Meetings Highlight A Return To 20% Growth - Needham
Get Alerts SPSC Hot Sheet
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Join SI Premium – FREE
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.
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 $72.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teledyne (TDY) PT Lowered to $455 at Needham
- Jet2 plc (JET2:LN) (DRTGF) PT Raised to GBP20 at RBC Capital
- ASM International NV (ASM:NA) PT Raised to EUR720 at Citi
Create E-mail Alert Related Categories
Analyst Comments, Management CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!