Canaccord Genuity Maintains a 'Hold' on SPS Commerce (SPSC); Solid Quarter, But Valuation Full
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Price: $85.40 +0.57%
Rating Summary:
7 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
Rating Summary:
7 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
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Canaccord Genuity maintains a 'Hold' on SPS Commerce (NASDAQ: SPSC) price target raised to $25.
Analyst, Richard Davis, said, "SPS posted a solid finish to a year in which the firm saw its organic revenue growth spool up from the high teens to the mid-20% range. With the firm’s commendable 2011 execution came increased investor interest, stock price appreciation, and a multiple expansion that reached never-before-seen levels for the stock. This impressive success tempered our near-term excitement about the stock, and we downgraded to a HOLD about two moths ago based on valuation. Longer term, we have little hesitation about the firm’s market position, business model or growth prospects – SPSC is likely to be an excellent multi-year investment. Nearer term, as we’re forced to focus, SPSC’s high-end valuation is likely to make the stock a market performer. To us, that’s a HOLD."
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 $27.91 yesterday.
Analyst, Richard Davis, said, "SPS posted a solid finish to a year in which the firm saw its organic revenue growth spool up from the high teens to the mid-20% range. With the firm’s commendable 2011 execution came increased investor interest, stock price appreciation, and a multiple expansion that reached never-before-seen levels for the stock. This impressive success tempered our near-term excitement about the stock, and we downgraded to a HOLD about two moths ago based on valuation. Longer term, we have little hesitation about the firm’s market position, business model or growth prospects – SPSC is likely to be an excellent multi-year investment. Nearer term, as we’re forced to focus, SPSC’s high-end valuation is likely to make the stock a market performer. To us, that’s a HOLD."
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 $27.91 yesterday.
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