Fintel reports that on November 14, 2023, DA Davidson initiated coverage of SPS Commerce (NASDAQ:SPSC) with a Buy recommendation.
Analyst Price Forecast Suggests 4.88% Upside
As of November 1, 2023, the average one-year price target for SPS Commerce is 195.50. The forecasts range from a low of 169.68 to a high of $225.75. The average price target represents an increase of 4.88% from its latest reported closing price of 186.40.
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The projected annual revenue for SPS Commerce is 534MM, an increase of 3.93%. The projected annual non-GAAP EPS is 2.51.
What is the Fund Sentiment?
There are 791 funds or institutions reporting positions in SPS Commerce. This is an increase of 25 owner(s) or 3.26% in the last quarter. Average portfolio weight of all funds dedicated to SPSC is 0.39%, an increase of 5.41%. Total shares owned by institutions decreased in the last three months by 0.83% to 45,331K shares. 
The put/call ratio of SPSC is 3.63, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,559K shares representing 6.97% ownership of the company. In it's prior filing, the firm reported owning 2,626K shares, representing a decrease of 2.58%. The firm increased its portfolio allocation in SPSC by 19.05% over the last quarter.
Neuberger Berman Group holds 1,804K shares representing 4.92% ownership of the company. In it's prior filing, the firm reported owning 1,810K shares, representing a decrease of 0.31%. The firm decreased its portfolio allocation in SPSC by 54.16% over the last quarter.
Conestoga Capital Advisors holds 1,557K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 1,573K shares, representing a decrease of 1.09%. The firm decreased its portfolio allocation in SPSC by 4.88% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,132K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 1,128K shares, representing an increase of 0.29%. The firm increased its portfolio allocation in SPSC by 16.69% over the last quarter.
NBGNX - Neuberger Berman Genesis Fund Investor Class holds 1,101K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 1,146K shares, representing a decrease of 4.07%. The firm increased its portfolio allocation in SPSC by 6.55% over the last quarter.
SPS Commerce Background Information
(This description is provided by the company.)
SPS Commerce is the world's leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. The company supports data-driven partnerships with innovative cloud technology, customer-obsessed service and accessible experts so its customers can focus on what they do best. To date, more than 95,000 companies in retail, distribution, grocery and e-commerce have chosen SPS as their retail network. SPS has achieved 80 consecutive quarters of revenue growth and is headquartered in Minneapolis.
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