Canaccord Genuity Maintains a 'Hold' on SPS Commerce (SPSC); Waiting For More Favorable Entry Point
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Price: $54.94 -2.35%
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade SPSC Now!
Canaccord Genuity maintains a 'Hold' on SPS Commerce (NASDAQ: SPSC) price target of $25.00.
Analyst, Richard Davis, said, "SPS Commerce posted 26% organic recurring revenue growth as customer count increased 11%. Results up and down the financial statements were in line or slightly better than forecasts. The firm’s business continues to hum along, adding hundreds of low-cost monthly subscriptions per quarter to a cloud-based network that replaces what are often decade-old, legacy EDI deployments. That noted, the stock isn’t cheap and SPSC shares have advanced in line with NASDAQ year-to-date. We are looking for any disconnect in which the stock weakens to seriously consider an upgrade from our current HOLD rating."
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 $28.83 yesterday, with a 52 week range of $15.04-$32.97.
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Analyst, Richard Davis, said, "SPS Commerce posted 26% organic recurring revenue growth as customer count increased 11%. Results up and down the financial statements were in line or slightly better than forecasts. The firm’s business continues to hum along, adding hundreds of low-cost monthly subscriptions per quarter to a cloud-based network that replaces what are often decade-old, legacy EDI deployments. That noted, the stock isn’t cheap and SPSC shares have advanced in line with NASDAQ year-to-date. We are looking for any disconnect in which the stock weakens to seriously consider an upgrade from our current HOLD rating."
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 $28.83 yesterday, with a 52 week range of $15.04-$32.97.
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