Morgan Stanley analyst Chris Quintero lowered the firm’s price target on SPS Commerce (SPSC) to $140 from $170 and keeps an Overweight rating on the shares. Following the Q2 earnings season, peer multiples have come down across the software space, notes the analyst, who is marking the firm’s implied SPS multiple to market. Following Q2’s formal reset around management’s medium-term expectations for organic growth, the Q3 report is “likely less of a catalyst,” says the analyst, who looks to Q4 instead.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPSC:
- SPS Commerce price target lowered to $125 from $135 at Northland
- SPS Commerce price target lowered to $135 from $170 at Cantor Fitzgerald
- SPS Commerce: Leveraging Network-Led Strategy and AI for Robust Growth
- Strategic Growth and Profitability Potential Drive Buy Rating for SPS Commerce
- SPS Commerce: Promising Growth with Strategic Expansion and AI Integration