Northland raised the firm’s price target on SPS Commerce to $175 from $151 and keeps a Market Perform rating on the shares. Organic revenue growth sustained at 16% year-over-year, despite weaker customer adds, and implied second half guidance embeds a “potentially conservative assumption of decelerating organic revenue growth,” says the analyst, who sees the stock as “fairly valued.”
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Read More on SPSC:
- SPS Commerce sees FY23 adjusted EPS $2.69-$2.72, consensus $2.71
- SPS Commerce sees Q3 EPS 65c-67c, consensus 69c
- SPS Commerce reports Q2 adjusted EPS 69c, consensus 63c
- SPS Commerce Reports Second Quarter 2023 Financial Results
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