SPS Commerce price target raised to $151 from $148 at Northland

Northland analyst Nehal Chokshi raised the firm’s price target on SPS Commerce to $151 from $148 and keeps a Market Perform rating on the shares. Organic recurring revenue growth sustained at about 15% year-over-year and guidance implies 2023 organic revenue growth of 14%-plus "minimally," said the firm, which expects revenue growth will likely bottom in Q2 and reaccelerate in the second half.