William Blair Increases Earnings Estimates for SPS Commerce

SPS Commerce, Inc. (NASDAQ:SPSC) – Research analysts at William Blair lifted their Q4 2025 earnings estimates for shares of SPS Commerce in a research report issued on Tuesday, February 11th. William Blair analyst D. Becker now anticipates that the software maker will post earnings of $0.77 per share for the quarter, up from their previous estimate of $0.72. The consensus estimate for SPS Commerce’s current full-year earnings is $2.38 per share. William Blair also issued estimates for SPS Commerce’s Q1 2026 earnings at $0.76 EPS, Q2 2026 earnings at $0.79 EPS, Q3 2026 earnings at $0.87 EPS, Q4 2026 earnings at $0.87 EPS and FY2026 earnings at $3.29 EPS.

Other analysts have also issued reports about the stock. Needham & Company LLC cut their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday. Northland Securities reissued a “market perform” rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday. Piper Sandler cut their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday. Citigroup cut their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Stifel Nicolaus reduced their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Price Performance

SPSC stock opened at $148.50 on Thursday. SPS Commerce has a 12 month low of $147.27 and a 12 month high of $218.61. The firm has a market cap of $5.58 billion, a PE ratio of 71.05 and a beta of 0.88. The firm has a 50 day simple moving average of $186.73 and a 200 day simple moving average of $189.28.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SPSC. Blue Trust Inc. increased its stake in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of SPS Commerce during the 4th quarter worth $40,000. Hurley Capital LLC acquired a new position in shares of SPS Commerce during the 4th quarter worth $41,000. Finally, R Squared Ltd acquired a new position in shares of SPS Commerce during the 4th quarter worth $57,000. Institutional investors and hedge funds own 98.96% of the company’s stock.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total value of $1,813,176.54. Following the transaction, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the transaction, the chief financial officer now owns 147,002 shares in the company, valued at approximately $26,620,592.18. This represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,230 shares of company stock worth $6,379,187. 1.00% of the stock is currently owned by company insiders.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.